US Sanctions Iran Largest Crypto Exchange Nobitex
The U.S. Treasury Department sanctioned Iran's largest cryptocurrency exchange and its leadership for facilitating transactions for the Islamic Revolutionary Guard Corps. Officials state Nobitex helped the regime evade sanctions and move assets during internet blackouts following recent combat operations.
The United States sanctioned Iran's largest cryptocurrency exchange, Nobitex, on Tuesday for processing hundreds of millions of dollars for blacklisted state institutions. The move follows a May 1 investigation revealing the exchange's role in a parallel financial system for the central bank and the Islamic Revolutionary Guard Corps. The U.S. Treasury accused the platform of enabling the Iranian government to circumvent Western sanctions.
