U.S. Sanctions Iran's Largest Crypto Exchange
The U.S. sanctioned Iran's largest crypto exchange, Nobitex, and its founders for enabling the Iranian government to evade sanctions.
Atlas Newsdesk ·
U.S. Sanctions Iran's Largest Crypto Exchange
The United States on Tuesday sanctioned Nobitex, Iran's largest cryptocurrency exchange, and its founders, accusing them of facilitating the Iranian government's evasion of Western sanctions. This action follows a May 1 investigation that detailed Nobitex's role in processing hundreds of millions of dollars for Iran's central bank and the Islamic Revolutionary Guard Corps (IRGC).
The U.S. Treasury Department stated that Nobitex provided significant support to the Iranian government and enabled numerous digital transactions linked to the IRGC and the central bank. Treasury Secretary Scott Bessent commented that the Iranian regime has co-opted digital asset technologies for its agenda, including sanctions evasion and wealth transfer. The sanctions target Nobitex's chief executive, Amir Hossein Rad, and brothers Seyed Mohammad Ali Aghamir Mohammad Ali and Seyed Mohammad Aghamir Mohammad Ali, who control the exchange.
The investigation revealed that the controlling brothers are from the influential Kharrazi family and that Nobitex continued operations even during government-imposed internet shutdowns. Nobitex, in an April statement to, denied direct government connections or knowingly facilitating illicit transactions, asserting that any such funds moved without management approval or awareness.