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The Trump administration has placed sanctions on Iran’s largest digital asset exchange, Nobitex, and three others.
Business FILE - The Treasury Department building is pictured at dusk in Washington, June 6, 2019. Treasury Secretary Scott Bessent listens to a reporter's question in the James Brady Press Briefing Room at the White House, Thursday, May 28, 2026, in Washington.
– As part of the Trump administration's ongoing campaign to pressure Iran into a deal that would end an ongoing war with the U.S. and Israel, the U.S. placed sanctions on Iran’s largest digital asset exchange and three other exchanges, Tuesday. Included in the sanctions are Iran's largest digital assets firm Nobitex and its chairman and co-founder, Amir Hossein Rad.
Treasury says Nobitex has processed more than 50% of all Iranian digital asset income last year and supports Iran's vast sanctions evasion network. The sanctions come as a pair of semiofficial Iranian news agencies reported Tuesday that Iran stopped communicating with mediators about extending aTreasury accuses Nobitex of moving assets and funds out of the country to shield regime wealth after the start of U.S. combat operations in Iran. A representative from Nobitex could not be reached through email.
U.S. officials maintain that Iran relies heavily on cryptocurrency and other digital assets to evade sanctions. Treasury Secretary Scott Bessent said at the Reagan National Economic Forum this month, “We have seized about a billion dollars of their crypto.
" The Trump administration's latest announcement is one of a variety of measures put in place to inflict economic pain on Iran. It has also imposed secondary economic sanctions on countries doing business with people, firms, and ships under Iranian control — including allies like the United Arab Emirates and competitors like China.
Banks have received warnings about handling Iranian money.on Iran's newly created Persian Gulf Strait Authority, which is an agency intended to control shipping through the narrow Strait of Hormuz. Treasury calls the agency a “scheme to extort international shipping. ”Copyright 2026 The Associated Press. All rights reserved.
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