US Sanctions Iran's Largest Crypto Exchange Over Alleged IRGC Ties

The US Treasury has imposed sanctions on Iran's largest cryptocurrency exchange, Nobitex, for allegedly enabling the Iranian government and blacklisted state institutions to circumvent Western sanctions.

According to a Reuters investigation published earlier this month, Nobitex played a central role in processing hundreds of millions of dollars worth of transactions linked to the IRGC and Iranian government.

The US Treasury has sanctioned the exchange individually as well as its executives, including two brothers from one of Iran's most powerful families with close ties to the supreme leader.