The US has added four digital asset exchanges to its sanctions list, including Iran’s largest cryptocurrency exchange, Nobitex.

In a statement from the US Department of the Treasury, it was reported that the Office of Foreign Assets Control (OFAC) has issued new sanctions against Iran under the “Economic Fury” campaign.

The statement noted that Nobitex and three other cryptocurrency exchanges were added to the sanctions list in this context, stating that Nobitex processed more than 50 percent of all digital assets entering Iran last year.

It was alleged in the statement that the company helped Iran evade sanctions, facilitated transactions linked to the Islamic Revolutionary Guard Corps (IRGC), and processed transactions with wallets used by actors engaged in ransomware activities.

The statement also claimed that Nobitex enabled the Central Bank of Iran to access hundreds of millions of dollars in stablecoins and was used in attempts to limit the depreciation of the Iranian rial. It further argued that the company helped move Iranian funds out of the country despite internet outages.

The management team of Nobitex was also added to the sanctions list, according to the statement.

Noting that the other crypto exchanges added to the sanctions list were Wallex, Bitpin, and Ramzinex, the statement mentioned that Wallex is Iran’s second-largest digital asset exchange in terms of trading volume.

The statement alleged that these companies also mediated the execution of numerous transactions connected to the Islamic Revolutionary Guard Corps.

US Treasury Secretary Scott Bessent, in his assessment of the matter, asserted that Iran uses digital asset technologies as a tool for operations such as bypassing sanctions and moving capital out of the country.

Bessent emphasized that they will continue to track financial movements through both the traditional banking system and digital assets in order to prevent Iran from developing nuclear weapons.