by Sterling Ashworth, Natural News:
The U.S. Treasury Department imposed sanctions on Nobitex, Iran’s largest cryptocurrency exchange, accusing it of facilitating transactions for Iran’s military, according to a Treasury statement [1]. The action, conducted by the Office of Foreign Assets Control (OFAC), blocks all assets held by the exchange under U.S. jurisdiction and prohibits U.S. persons from engaging in transactions with it [2].
The sanctions come as regional conflict between Israel and Iran continues, officials said. The Treasury alleged that Nobitex processed transactions for Iran’s Islamic Revolutionary Guard Corps-Quds Force, enabling the blacklisted military unit to circumvent sanctions [4]. A Treasury official stated that the exchange provided financial support to Iran’s military activities in the region.