After unleashing “epic fury” on Iran, the United States has launched another front to intensify its pressure on the country. The United States on Tuesday imposed sanctions on Iran’s largest cryptocurrency exchange, Nobitex, and several of its senior executives, accusing the platform of helping the Iranian government and sanctioned entities bypass Western restrictions.
The move, dubbed “economic outrage,” is part of the Trump administration’s efforts to increase economic pressure on Tehran amid the ongoing conflict between the United States, Iran and Israel.According to the US Treasury Department, Nobitex processed more than half of Iran’s digital asset income last year and played a key role in the country’s sanctions evasion network. Treasury officials claimed that the exchange helped move assets and funds out of Iran after the start of US combat operations, allowing the regime to protect its wealth despite the internet outage.Those sanctioned include Nobitex Chairman and Co-Founder Amir Hussein Rad, the exchange’s CEO, and brothers Syed Muhammad Ali Agamir Muhammad Ali and Syed Muhammad Agamir Muhammad Ali.
Iranian entities under sanctions
The US has imposed sanctions on several Iranian cryptocurrency exchanges and executives:Nobitex: Iran’s largest digital asset exchange, handling more than 50% of the country’s cryptocurrency flows in 2025. The US claims it facilitated transactions linked to the Islamic Revolutionary Guard Corps (IRGC), helped evade sanctions, and enabled regime insiders to access international cryptocurrency markets.
Amir Hussein Rad: Nobitex Chairman, Co-Founder and Former CEO. The United States says he helped restore the exchange’s operations after a major hack in June 2025 and sanctioned him for his leadership role in the company.Syed Muhammad Ali Aghamir Muhammad Ali: Co-founder of Nobitex and member of the influential Kharazi family. The United States imposed sanctions on him on charges of supporting the exchange.Syed Muhammad Aghamir Muhammad Ali: Co-founder of Nobitex and Head of Blockchain. He was punished because of his major role in the stock market.Sayyed Ali Khoei: Current CEO of Nobitex and former Director of Product and Marketing. The United States imposed sanctions on him as a senior official in the company.And Alex: Iran’s second-largest cryptocurrency exchange, accounting for about 12% of the country’s digital asset flows in 2025. The United States claims it facilitated transactions linked to the Iranian Revolutionary Guard.It turns out: An Iranian cryptocurrency exchange received about 10% of Iranian cryptocurrency flows in 2025. US authorities say it processed transactions linked to the Iranian Revolutionary Guard, while some investors are reportedly linked to sanctions evasion efforts.Ramzinex: The Tehran-based cryptocurrency exchange was founded in 2018. It has processed more than $2.45 billion in transactions and is accused by the United States of handling transactions linked to the Iranian Revolutionary Guard and a government-backed financial institution, as well as facilitating sanctions evasion.
Why did the United States impose sanctions on Iranian cryptocurrency companies?
The sanctions come on the heels of an investigation that identified Nobitex as a key hub in a parallel financial system used to process hundreds of millions of dollars for the Central Bank of Iran and the Islamic Revolutionary Guard Corps (IRGC).
The report also found that the exchange continued to operate during the government-mandated internet shutdown, processing millions of dollars in transactions.In a statement, Treasury Secretary Scott Besent said: “While the Iranian economy is in free fall, the regime has chosen to exploit digital asset technologies for its corrupt agenda, including evading sanctions and moving wealth out of the country.”The Treasury Department said Nobitex provided “substantial support” to the Iranian government and facilitated a “substantial number” of digital transactions linked to both the IRGC and the Central Bank of Iran.The ministry said: “After the start of US combat operations in Iran, Nobitex played a role in protecting and transferring assets and funds outside Iran to protect the regime’s wealth despite the internet outage.”US officials have repeatedly argued that Iran relies heavily on cryptocurrencies and other digital assets to circumvent sanctions. Speaking earlier this month at the Reagan National Economic Forum, Besant said: “We seized about $1 billion worth of their cryptocurrencies.”The latest sanctions are part of a broader economic pressure campaign against Iran. The administration also imposed secondary sanctions on countries that do business with individuals, companies, and ships under Iranian control, including allies and competitors.
Banks have also been warned about handling Iranian funds.Meanwhile, Tehran has halted its contacts with mediators regarding the possibility of extending the ceasefire in the conflict with the United States and Israel. But US President Donald Trump cast doubt on the report and said discussions were continuing.
