US Slaps Sanctions on Iran's Largest Crypto Exchange Over Alleged Ties

The US Treasury Department has imposed sanctions on Iran's largest cryptocurrency exchange, Nobitex, for allegedly helping the Iranian government evade Western restrictions.

Nobitex is accused of providing significant support to the Iranian government and facilitating a substantial number of digital transactions linked to Iran's central bank and the Islamic Revolutionary Guard Corps (IRGC), both of which are subject to US sanctions.

The Treasury Department claims that Iran has used digital asset technologies to evade sanctions and move wealth out of the country, despite mounting economic pressures.