U.S. sanctions Iran’s largest cryptocurrency exchange Nobitex over IRGC links

The U.S. has imposed sanctions on Iran's largest cryptocurrency exchange, Nobitex, citing its role in facilitating financial transactions for Iran's central bank and the Islamic Revolutionary Guard Corps (IRGC). Investigations revealed that Nobitex was instrumental in the parallel financial system that supports these entities, which are deemed to be involved in activities that threaten U.S. national security. This move underscores the U.S.'s commitment to curbing financial networks that bolster state-sponsored threats, highlighting the growing concern over cryptocurrency's role in evading traditional sanctions. The sanctions could significantly disrupt Iran's cryptocurrency operations and its ability to bypass international financial restrictions.