Nigeria TV Info

The United States government has imposed fresh sanctions on Iran’s largest cryptocurrency exchange, Nobitex, over allegations that it helped the Iranian government and the Islamic Revolutionary Guard Corps (IRGC) evade international sanctions through digital asset transactions. The move marks a significant escalation in Washington’s efforts to target Iran’s financial networks and cryptocurrency sector.

According to the U.S. Treasury Department, Nobitex allegedly provided substantial support to Iranian state institutions and facilitated numerous transactions linked to entities already under international sanctions. U.S. officials claim the platform played a key role in moving funds and protecting assets connected to the Iranian regime.

The sanctions also target several individuals associated with the exchange, including company executives and key stakeholders. In addition to Nobitex, the U.S. announced restrictions on other Iran-based digital asset exchanges as part of a broader campaign aimed at disrupting Tehran’s ability to use cryptocurrencies to bypass economic restrictions.

U.S. Treasury Secretary Scott Bessent stated that Iran has increasingly relied on digital asset technologies to evade sanctions and move wealth outside the country, accusing the regime of using cryptocurrencies to support activities contrary to international security interests.

Nobitex has denied direct involvement with the Iranian government and rejected allegations that it knowingly facilitated sanctions evasion. The company stated that any misuse of its platform occurred without management approval and said it had prepared for the possibility of sanctions due to longstanding international restrictions facing Iranian businesses.

Financial analysts say the latest measures could further isolate Iran’s cryptocurrency market from the global financial system, making it more difficult for Iranian individuals and businesses to access international digital asset services. The sanctions are also expected to increase scrutiny of crypto exchanges operating in jurisdictions subject to international sanctions.