US Sanctions Iranian Crypto Exchanges

The U.S. Treasury Department has blacklisted four Iranian cryptocurrency exchanges, including Nobitex, along with several executives. This action is part of an ongoing effort to counter Iran's alleged use of digital assets for sanctions evasion, illicit financing, and transferring wealth out of the country. The Treasury cited links to terrorism, ransomware payments, and transactions involving the Islamic Revolutionary Guard Corps. These sanctions prohibit U.S. entities and individuals using the dollar system from engaging in any financial services with the targeted platforms. This move follows recent reports of the Treasury seizing approximately $1 billion in crypto from Iranian sources.