US Sanctions Nobitex and Iranian Crypto Platforms to Pressure Tehran

The United States Department of the Treasury sanctioned Nobitex, Iran's largest digital asset exchange, and three other platforms—Wallex, Bitpin, and Ramzinex—on June 2, 2026. This action is part of a "maximum pressure" campaign termed Economic Fury, aimed at forcing Iran to end its conflict with the U.S. and Israel. The Treasury alleges Nobitex processed over 50% of Iran's digital asset income last year, facilitating a parallel financial network for the Iranian government, the Central Bank of Iran, and the Islamic Revolutionary Guard Corps (IRGC) to evade international sanctions and shield regime wealth.

Alongside the exchanges, the U.S. targeted Nobitex CEO Amir Hossein Rad and other leadership, as well as the Persian Gulf Strait Authority, which the U.S. describes as a scheme to extort international shipping. The Treasury reports that these measures have frozen approximately $500 million in regime-linked assets, while other reports indicate the seizure of about $1 billion in cryptocurrency. Nobitex denied direct government connections but informed customers it had prepared for such operational disruptions.

These economic measures coincide with a U.S. military blockade of Iranian ports that began on April 17. While Iranian news agencies claimed on June 2 that Tehran had ceased communications regarding a ceasefire, President Donald Trump disputed those reports, asserting that discussions are continuing.