US Treasury issues sanctions on Iran, targets 4 crypto exchanges

The sanctions come four days after Treasury Secretary Scott Bessent said the US had seized nearly $1 billion in crypto from Iranian crypto exchanges and wallets since late February.

The US Treasury has sanctioned four Iranian crypto exchanges, including the country’s largest, Nobitex, marking the latest effort in its campaign called “Economic Fury” that aims to cut Iran off from the financial system.

The Treasury said on Tuesday that it added crypto exchanges Wallex, Bitpin and Ramzinex to the Office of Foreign Assets Control’s sanction list, prohibiting US businesses and persons from providing services to those platforms.

“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,” said Treasury Secretary Scott Bessent.

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