The US Treasury's Office of Foreign Assets Control (OFAC) has sanctioned two cryptocurrency exchanges linked to Iran, according to a Treasury Department press release (sb0375). The designation identifies the platforms as Iran-linked, formalizing the action through official regulatory channels.

OFAC, the Treasury division responsible for administering and enforcing economic and trade sanctions, is the agency behind the enforcement action. The press release referenced as sb0375 serves as the primary source documenting the designations. Such designations typically result in the targeted entities being added to OFAC's Specially Designated Nationals (SDN) List, which requires all US persons and businesses to block any assets of the designated parties and prohibits virtually all transactions with them.

A related Federal Register notice dated February 4, 2026 (notice of OFAC sanctions action) provides a second official documentation trail. This entry represents the clearest formal record supporting the sanctions action as a regulatory measure rather than informal enforcement guidance. The available source materials do not specify the names of the sanctioned exchanges or provide additional operational details.

Compliance Implications

The combination of a Treasury sanctions press release and a Federal Register notice establishes a compliance-triggering event for regulated entities. Cryptocurrency exchanges, brokers, financial institutions, and other counterparties that screen wallets, customers, and transactions against sanctions lists would be expected to treat an OFAC designation published through sb0375 and the Federal Register as a binding risk-control matter. Under OFAC's 50 Percent Rule, any entity owned 50 percent or more by a sanctioned person is also blocked, even if not separately listed, expanding the compliance footprint beyond the two named exchanges.

OFAC enforcement against cryptocurrency platforms is not unprecedented. The agency has previously designated exchanges such as Suex and Chatex in 2021, Garantex in 2022, and Bitzlato in 2023, reflecting a sustained enforcement focus on digital asset venues accused of facilitating illicit finance.

No verified price, volume, or liquidity data accompanies the available documentation, so any assessment of immediate trading impact would be unsupported by the official record.

Related Sanctions Coverage

The action follows broader US enforcement efforts targeting Iranian cryptocurrency activity. CoinWy has previously reported on the US Treasury sanctioning Iran's biggest crypto exchange, changes under Trump-era Iran crypto sanctions, and a US estimate raising Iranian crypto seizures to $1 billion.

CoinWy has also reported on how paying Iran in cryptocurrency can create sanctions risk for shippers, consistent with interpreting the current designation through a counterparty-risk framework. These prior reports provide additional context, though the present action rests solely on the Treasury and Federal Register records.