OFAC Designates Targets in Iran Including Iran's Largest Crypto Exchange

OFAC imposed blocking sanctions against four entities and four individuals (all in Iran) under its Iran and Counterterrorism sanctions programs for operating Iranian digital asset exchanges that have processed billions of dollars in transactions linked to the IRGC, facilitated sanctions evasion, and helped the government of Iran transfer wealth out of the country. The action targeted Nobitex, Iran's largest crypto exchange, which processed over 50% of all Iranian digital asset inflows in 2025, along with Wallex, Bitpin, and Ramzinex, as well as Nobitex's chairman, co-founders, and current CEO. OFAC also issued a new FAQ 1257 addressing sanctions risks associated with Iranian digital asset exchanges.