U.S. sanctions Iran's largest crypto exchange over IRGC links
Key points
- The United States announced sanctions on Iran’s biggest cryptocurrency exchange on Tuesday (June 2, 2026), accusing it of enabling the Iranian government and blacklisted State institutions to circumvent Western sanctions.
- The new sanctions follow a Reuters investigation published on May 1, which showed how Nobitex had become a central node in a parallel financial system used to process hundreds of millions of dollars for Iran’s central bank and the Islamic Revolutionary Guard Corps.
- The report also revealed how Nobitex continued operating even after the government-imposed internet shutdown, processing millions of dollars of transactions.
- “While Iran’s economy is in free fall, the regime has chosen to co-opt digital asset technologies for its own corrupt agenda, including evading sanctions and transferring wealth out of the country,” Treasury Secretary Scott Bessent said in a statement.
- The Reuters investigation showed how Nobitex is controlled by two brothers from one of Iran’s most powerful families,...
Quick Summary
The United States announced sanctions on Iran’s biggest cryptocurrency exchange on Tuesday (June 2, 2026), accusing it of enabling the Iranian government and blacklisted State
Why It Matters
This development is important because it may impact public opinion, policy decisions, and future developments related to U.S. sanctions Iran's largest crypto exchange over IRGC link.
Key Takeaways
- The United States announced sanctions on Iran’s biggest cryptocurrency exchange on Tuesday (June 2, 2026), accusing it of enabling the Iranian government and blacklisted State institutions to circumvent Western sanctions.
- The new sanctions follow a Reuters investigation published on May 1, which showed how Nobitex had become a central node in a parallel financial system used to process hundreds of millions of dollars for Iran’s central bank and the Islamic Revolutionary Guard Corps.
- The report also revealed how Nobitex continued operating even after the government-imposed internet shutdown, processing millions of dollars of transactions.
- “While Iran’s economy is in free fall, the regime has chosen to co-opt digital asset technologies for its own corrupt agenda, including evading sanctions and transferring wealth out of the country,” Treasury Secretary Scott Bessent said in a statement.
- The Reuters investigation showed how Nobitex is controlled by two brothers from one of Iran’s most powerful families, with close ties to the new supreme leader.
📌 Source: The Hindu
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