U.S. Sanctions Iran's Largest Crypto Exchange, Nobitex, Over IRGC Links

The U.S. Treasury imposed sanctions on Nobitex, Iran's largest cryptocurrency exchange, and its executives on June 2, 2026. The sanctions accuse Nobitex of helping the Iranian government and sanctioned entities evade Western restrictions. The action is part of broader efforts to increase economic pressure on Tehran amid ongoing conflicts. Nobitex continued to operate even after the Iranian government imposed an internet shutdown, processing millions of dollars in transactions. The exchange's resilience during the shutdown highlights its role in facilitating financial activity despite restrictions. The U.S. described the move as 'Economic Fury,' emphasizing its intent to intensify pressure on Iran. Sources report that the sanctions are part of a broader strategy to disrupt Iran's financial networks. The U.S. Treasury claims Nobitex aided the Iranian government and sanctioned entities in bypassing Western restrictions. The Iranian government has not commented publicly on the sanctions, but the exchange's continued operation suggests it remains a key player in Iran's financial ecosystem.