US Treasury sanctions Nobitex, Iran’s largest digital asset exchange, and freezes $500 million in crypto linked to the regime

The US Treasury sanctioned Nobitex on Tuesday, along with three other financial entities, as part of the Trump administration’s campaign to cut off Tehran’s funding channels. For high-risk PSPs, the practical point is simple: if a platform is shown processing sanctioned flows or state-linked transactions, the compliance fallout does not stay confined to one exchange.

1. Nobitex was described by the Treasury as Iran’s largest digital asset exchange and was responsible for processing 50% of Iran’s digital asset flow in 2025. The agency said it had facilitated transactions linked to the Islamic Revolutionary Guard Corps (IRGC).
2. According to the official statement, the sanctioned entity also helped the Central Bank of Iran access millions of dollars in cryptocurrency used, in the view of US authorities, to evade international sanctions. That is the kind of fact pattern banks and PSPs look for when deciding whether a counterparty belongs anywhere near their risk appetite.
3. The Treasury said the restrictive action blocks $500 million in cryptocurrency linked to the Iranian regime. In other words, this was not a symbolic designation; it was a direct hit on a funding path the US says has been used at scale.
4. Last week, the State Department offered a reward of up to $15 million for information to undermine the Iranian Revolutionary Guard’s financial mechanisms and issued new sanctions against a network of companies and actors tied to military oil sales. The pressure campaign has been widening, not narrowing.
5. Since April, when the US and Iran agreed to a ceasefire, the Treasury has stepped up sanctions against dozens of financial entities, prioritizing those linked to the country’s missile program. Secretary of State Marco Rubio also told Congress on Tuesday that sanctions on Iran are not being considered for removal, even if the Strait of Hormuz reopens next week.