U.S. sanctions Iran's largest crypto exchange over IRGC links
The U.S. has imposed sanctions on Iran's largest cryptocurrency exchange, Nobitex, for its alleged role in helping the Iranian government evade Western sanctions. The sanctions follow a Reuters investigation that revealed Nobitex's connections to the Islamic Revolutionary Guard Corps and its operations during internet shutdowns. Treasury Secretary Scott Bessent criticized the Iranian regime for using digital asset technologies to further its agenda amid economic turmoil.
- ▪The U.S. sanctioned Nobitex for enabling the Iranian government to circumvent sanctions.
- ▪Nobitex is controlled by two brothers from a powerful Iranian family with ties to the supreme leader.
- ▪The exchange has been accused of processing significant transactions for Iran's central bank and the IRGC.
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| Original publisher | The Hindu — Top |
| Canonical URL | https://www.thehindu.com/news/international/us-sanctions-irans-largest-crypto-exchange-over-irgc-links/article71054476.ece |
| Publication time | Wed, 03 Jun 2026 07:06:41 +0530 |
| Retrieval time | 2026-06-03T02:06:47.201Z |
| Last seen | 2026-06-03T02:06:47.201Z |
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Opening excerpt (first ~120 words) tap to expand
The United States announced sanctions on Iran’s biggest cryptocurrency exchange on Tuesday (June 2, 2026), accusing it of enabling the Iranian government and blacklisted State institutions to circumvent Western sanctions. How Trump's crypto venture and Iran's top exchange tapped into the same industry networksThe new sanctions follow a Reuters investigation published on May 1, which showed how Nobitex had become a central node in a parallel financial system used to process hundreds of millions of dollars for Iran’s central bank and the Islamic Revolutionary Guard Corps.The report also revealed how Nobitex continued operating even after the government-imposed internet shutdown, processing millions of dollars of transactions.
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