U.S. Sanctions Four Iranian Crypto Exchanges, Including Nobitex

U.S. officials imposed sanctions on Iran's largest cryptocurrency exchange Nobitex and three other Iranian platforms. The measures restrict the exchanges' access to the U.S. financial system and prohibit American persons from dealing with them.

The sanctions were announced as part of broader efforts targeting Iranian financial networks. Officials stated the exchanges facilitate transactions that bypass existing restrictions. The action against Nobitex and several of its executives accused it of helping the government evade sanctions and finance militants.

Nobitex is described across reports as Iran's largest Bitcoin and crypto exchange by trading volume. The three additional platforms were not named in the initial announcements.