Four Iranian Crypto Exchanges Added to U.S. Sanctions List
The U.S. Department of the Treasury has added four major Iranian cryptocurrency exchanges — Nobitex, Bitpin, Ramzinex and Wallex — to the Office of Foreign Assets Control’s sanctions list. According to the Treasury Department, the exchanges operate in Iran’s financial sector and form part of the country’s digital asset infrastructure.
The action, announced on June 2, 2026, marks one of Washington’s most serious moves yet against Iran’s crypto ecosystem. Reuters also reported that the United States sanctioned four Iranian nationals and four Iran-based digital asset exchanges, adding that foreign financial institutions and individuals could face sanctions risk if they engage in certain transactions with the listed firms. 0
Nobitex Faces the Heaviest Allegations
The Treasury Department’s statement places particular focus on Nobitex, describing it as Iran’s largest digital asset exchange. According to OFAC, Nobitex processed more than 50 percent of all Iranian digital asset inflows in 2025 and allegedly provided significant support to the Iranian government. 1
OFAC alleges that Nobitex facilitated a significant number of digital asset transactions linked to the Islamic Revolutionary Guard Corps, including transactions involving wallets associated with IRGC-affiliated ransomware actors. The Treasury also claims that Nobitex enabled access to international digital asset exchanges and helped facilitate sanctions evasion across multiple jurisdictions. 2
Nobitex Executives and Co-Founders Also Sanctioned
In addition to the exchanges, several individuals connected to Nobitex were also designated. The Treasury named Amir Hossein Rad, Nobitex’s chairman, co-founder and former CEO; Seyed Ali Khoee, the company’s current CEO; and Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali, who are described as Nobitex co-founders. 3
According to OFAC, Rad was designated both as a leader or official of Nobitex and for operating in Iran’s financial sector. Khoee was designated as a leader or official of Nobitex, while the Aghamir brothers were sanctioned under counterterrorism-related authorities connected to Nobitex and the IRGC-related allegations. 4
U.S. Allegation: Crypto Used for Sanctions Evasion
The central U.S. allegation is that Iranian digital asset platforms have been used to move funds, evade sanctions and support sanctioned institutions. Treasury Secretary Scott Bessent said in the official statement that Iran’s government has used digital asset technologies for what the department describes as sanctions evasion and transferring wealth out of the country. 5
Reuters reported that the new sanctions followed an earlier investigation that described Nobitex as a central node in a parallel financial system used to process funds for Iran’s central bank and the IRGC. Reuters also noted that Nobitex had previously denied having direct government ties or knowingly facilitating illicit activity. 6
Wallex, Bitpin and Ramzinex Also Targeted
The Treasury Department also named Wallex, Bitpin and Ramzinex in the action. According to OFAC, Wallex received around 12 percent of Iranian digital asset inflows in 2025, while Bitpin received around 10 percent. The Treasury further claimed that both platforms had processed transactions linked to the IRGC. 7
OFAC also stated that Ramzinex, a Tehran-based digital asset exchange founded in 2018, had processed more than $2.45 billion in transactions, including transactions allegedly linked to the IRGC and a government-backed Iranian financial institution. Wallex, Bitpin and Ramzinex were designated under Executive Order 13902 for operating in Iran’s financial sector. 8
What the Sanctions Mean in Practice
Under OFAC rules, the property and interests in property of the designated persons that are in the United States or under the control of U.S. persons are blocked and must be reported to OFAC. In general, U.S. persons are prohibited from engaging in transactions involving designated individuals or entities unless authorized or exempt. 9
The action may also raise secondary sanctions risk for non-U.S. actors. Reuters reported that foreign financial institutions and individuals may also face sanctions exposure if they engage in certain transactions with the targeted exchanges. This could increase pressure on international platforms, blockchain analytics firms, payment intermediaries and compliance teams to monitor exposure to Iranian crypto infrastructure more closely. 10
Potential Impact on Iranian Crypto Users
For users inside Iran, the sanctions could create new uncertainty around liquidity, asset transfers, exchange connectivity and interaction with foreign platforms. Even if domestic trading continues, international services may become more cautious about wallet addresses, transaction flows or counterparties connected to the sanctioned exchanges.
The most immediate impact may be felt in cross-border movement of digital assets. Global exchanges, custodians, payment companies and compliance providers may tighten screening of flows connected to Nobitex, Bitpin, Ramzinex and Wallex. This could make it more difficult for users to move funds between Iranian platforms and international services.
Conclusion: Washington Is Turning Its Focus to Iran’s Crypto Infrastructure
The designation of Nobitex, Bitpin, Ramzinex and Wallex represents a major escalation in U.S. pressure on Iran’s digital asset ecosystem. The move is not only a corporate sanctions action; it is also a signal that Washington is paying closer attention to the role of crypto exchanges in Iran’s financial networks.
For Iran’s crypto market, the consequences may extend beyond the four named exchanges. The decision could reshape compliance behavior, increase scrutiny of Iranian-linked wallet activity and make international interaction with Iranian digital asset platforms significantly riskier. In practical terms, the sanctions place Iran’s crypto sector under a much brighter international compliance spotlight.
