Iranian crypto exchanges not affected by OFAC sanctions
No sanctions have been imposed on domestic Iranian cryptocurrency exchanges, according to local exchanges and fintech industry activists, following the US Treasury Department's designation of two London-registered digital asset trading platforms.
The US Treasury Friday announced that Zedcex Exchange Ltd and Zedxion Exchange Ltd were added to the Office of Foreign Assets Control (OFAC) sanctions list over allegations of financial cooperation with networks linked to Iran's economy and processing transactions involving sanctioned individuals and entities.
While the Treasury placed these two UK-based digital asset exchanges on its sanctions roster, rumors circulated online suggesting Iranian domestic crypto platforms had also been sanctioned. The claims prompted swift responses from Iranian exchanges and fintech activists, with authorities confirming that no domestic platform appears on the updated sanctions list, ILNA reported.
Several media outlets and news agencies, after reviewing the OFAC statement text, emphasized that no Iranian domestic platform was included and that reports about sanctions on Iranian exchanges lack an official basis.
In response to the spreading rumors, major Iranian exchanges — including Nobitex, Wallex, Bitpin, Ramzinex, Abantether and Tabdil — issued official statements declaring that no sanctions had been levied against them and that their services continue uninterrupted.
The published statements stressed that misinterpretations of foreign reports had fueled the rumors and urged users not to transfer their assets based on unofficial news. Some platforms additionally warned against moving capital to unidentified foreign exchanges, affirming that user asset security remains intact on domestic platforms.
Iran's cryptocurrency market has evolved into one of the most significant sectors of the country's digital economy in recent years, with millions of Iranian users actively buying and selling digital assets on domestic platforms. Consequently, any news or rumor regarding sanctions or operational restrictions on local exchanges can trigger widespread concern among users. Reports over recent days about sanctions on two Iran-linked exchanges generated a wave of anxiety across social media, though examination of the official OFAC statement from the US Treasury Department confirms the measures do not involve exchanges operating within Iran.
Iran has been under Western sanctions for decades over its nuclear program, with the oil and energy sectors hit the hardest.