US Treasury Sanctions Four Iranian Crypto Exchanges Amid Economic Fury Campaign
- The US Treasury sanctioned four Iranian crypto exchanges, including Nobitex, Iran’s largest.
- Other exchanges sanctioned are Wallex, Bitpin, and Ramzinex, prohibiting US entities from providing services to them.
- Nobitex accounts for approximately 50% of Iran’s crypto trading volume and has facilitated payments for the Islamic Revolutionary Guard Corps.
- Treasury Secretary Scott Bessent emphasized that these actions aim to disrupt financial networks supporting Iran’s nuclear program.
- Since the onset of the Iran war, nearly $1 billion in crypto has been seized from Iranian exchanges and wallets.
These sanctions are part of the “Economic Fury” campaign initiated on April 14, targeting financial channels used by the Iranian regime amid ongoing conflicts and sanctions evasion efforts.
The latest measures highlight a significant crackdown on digital asset platforms linked to state-sponsored activities, with Nobitex being central to these operations as it handles half of the nation’s crypto transactions. (Source)
