US sanctions Iranian crypto firms and individuals

The US Treasury Department’s Office of Foreign Assets Control (OFAC) announced on Tuesday that four individuals and four entities associated with Iran had been added to the US sanctions list. According to the Treasury Department, the four sanctioned individuals are linked to Nobitex, Iran’s largest cryptocurrency exchange. The sanctions also target three other companies active in financial and cryptocurrency services: Bitpin, Ramzinex, and Wallex.

The Treasury Department, repeating longstanding allegations against Iran, said OFAC had sanctioned Nobitex and three other digital asset exchanges as part of what it called an “Economic Fury” campaign and within the framework of President Donald Trump’s attempts to counter what it called Iran’s threat. The latest measures come despite ongoing efforts by the Trump administration to reach an agreement with the Islamic Republic of Iran after failing to achieve its objectives through military aggression against Tehran.

According to the report by Mehr News, the sanctions are part of a broader US strategy to pressure Iran economically. The designated entities and individuals are accused of facilitating transactions that could be used to bypass existing sanctions. The move underscores the continued tensions between the US and Iran, even as diplomatic channels remain open.