US Imposes Sanctions on Iran's Largest Crypto Exchange

The US has imposed sanctions on Iran's largest cryptocurrency exchange, Nobitex, due to its alleged links with the Iranian government and blacklisted state institutions. The sanctions follow a Reuters investigation that revealed how Nobitex enabled the Iranian government to circumvent Western sanctions.

Nobitex is controlled by two brothers from one of Iran's most powerful families, with close ties to the new supreme leader. The company has been accused of facilitating a significant number of digital transactions linked to the IRGC and Iran's central bank.

The US Treasury Department also announced new sanctions on a network of individuals, entities, and tankers smuggling Iranian-origin liquid petroleum gas disguised as Omani LPG to South and East Asia. The network used front companies in the UAE and China, as well as foreign bank accounts, to move millions of barrels of Iranian LPG while concealing its origin to evade US sanctions.