The U.S. Department of the Treasury announced on Tuesday sanctions against four Iranian cryptocurrency exchanges.

Deep Tide TechFlow News, June 3rd, according to Cointelegraph reports, the U.S. Treasury Department announced on Tuesday sanctions against four Iranian cryptocurrency exchanges, including the country's largest trading platform Nobitex as well as Wallex, Bitpin, and Ramzinex, prohibiting U.S. companies and individuals from providing services to these platforms.

Treasury Secretary Scott Bessent stated that the Iranian regime uses digital asset technology to evade sanctions and transfer wealth. Blockchain analysis firm Chainalysis pointed out that Nobitex handles about 50% of Iran's cryptocurrency trading volume and is at the core of the country's "digital dollar pipeline," with its founders and executives also listed on the sanctions list. Since the end of February, the U.S. has confiscated nearly $1 billion worth of cryptocurrencies from Iranian crypto wallets and exchanges, aiming to cut off Iran's financial channels and prevent the development of its nuclear program.