On June 2, the US authorities imposed sanctions on four major cryptocurrency exchanges linked to Iran.
The US Treasury Department has imposed sanctions on four of Iran’s largest cryptocurrency exchanges: Nobitex, Wallex, Bitpin, and Ramzinex. The restrictions also target the executives and co-founders of these platforms.
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Primary Target: Nobitex
According to US authorities, Nobitex, Iran’s largest crypto exchange, processed more than 50% of all crypto inflows into the country in 2025. The Treasury Department alleges that the platform was actively used for:
- Evading international sanctions
- Financing activities of the Islamic Revolutionary Guard Corps
- Conducting operations linked to terrorist activities
Sanctions also target the chairman and co-founder of Nobitex, as well as other key figures, including members of the influential Kharrazi family, which is close to Iran’s top leadership.
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What US Authorities Say About Iranian Exchanges
US Treasury Secretary Scott Bessent stated:
“As Iran’s economy collapses, the regime uses digital assets for its corrupt agenda—evading sanctions and moving capital out of the country.”
The sanctions were imposed under the “Economic Fury” campaign amid a sharp escalation of the US-Iran military confrontation.
US vs. Iran: What This Means for the Crypto Market
The sanctions will significantly complicate Iranian users’ access to cryptocurrency. Nobitex and other platforms were the main channels for Iranians to access the global crypto market. Transactions through these exchanges will now be severely restricted for anyone under US jurisdiction or using US infrastructure.
This is not the first US action against Iranian crypto infrastructure. Previously, Tether froze hundreds of millions of dollars in USDT▲$0.9996 linked to Iranian entities.
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