US Treasury Cracks Down On Crypto Ties To Iran: 4 Exchanges Receive New Sanctions
The US Treasury has introduced a brand new spherical of Iran-related sanctions focusing on crypto channels used to maneuver worth throughout borders, with Treasury officers arguing that Iran has turned to digital asset instruments to bypass restrictions and keep entry to worldwide funds.
New Iran Sanctions On Crypto Exchanges
The Treasury’s Office of Foreign Assets Control (OFAC) said Tuesday it designated Nobitex, described as Iran’s largest digital asset alternate, together with three different Iranian exchanges, as a part of an initiative branded “Economic Fury.”
The Treasury positioned the designations as a part of the Trump administration’s broader effort to cut back what officers name the risk posed by the Iranian regime.
According to the OFAC launch, Nobitex supplied substantial help to the regime by processing greater than half of all Iranian digital asset inflows in 2025.
Treasury officers additionally mentioned the platform facilitated funds tied to Iran’s terrorist actions, sanctions evasion efforts, and transactions linked to the Islamic Revolutionary Guard Corps (IRGC).
In addition, Treasury claims Nobitex helped the Central Bank of Iran entry “a whole bunch of hundreds of thousands of {dollars}” in stablecoins, which have been used to assist the plummeting worth of the Iranian rial.
The alternate, the discharge provides, additionally enabled regime insiders to succeed in worldwide digital asset exchanges and evade sanctions throughout a number of jurisdictions.
Binance Pushes Back
In remarks tied to the announcement, Treasury Secretary Scott Bessent mentioned Iran’s economic system is “in free fall,” however that the regime has however sought to “co-opt digital asset applied sciences” for what he described as a corrupt agenda—particularly to evade US sanctions.
Bessent concluded his feedback by saying that the Treasury intends to maintain “following the cash” to cease the regime from creating a nuclear weapon. He mentioned this method would lengthen past the standard banking system and attain “via digital belongings” as properly.
While the OFAC designations centered on Iranian exchanges, scrutiny has been spreading past Iran’s borders. Bitcoinist beforehand reported that spotlight has additionally rippled to Binance, the world’s largest cryptocurrency alternate.
In a February 24 letter to Binance co-CEO Richard Teng, Senator Richard Blumenthal cited reviews suggesting the corporate enabled “large-scale violations” of US and worldwide sanctions involving Iran.
Blumenthal wrote that Binance appeared to have ignored warnings and suggestions supposed to stop Iranian money-laundering schemes. He alleged that the crypto alternate allowed roughly $1.7 billion in transfers linked to Iran.
Binance, for its half, rejected the allegations forward of the senator’s inquiry. In a press release dated February 22, the corporate mentioned it carried out an inside evaluation and located “no proof of violations of relevant sanctions legal guidelines.”
Featured picture created with OpenArt; chart from TradingView.com
