Here’s How CoinEx Became a Critical Gateway for Iran’s Crypto Economy
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Researchers traced more than $3.84 billion in blockchain transactions between crypto exchange CoinEx and sanctioned Iranian entities over a period exceeding seven years. The findings follow OFAC sanctions on four Iranian exchanges — Nobitex, BitPin, Wallex, and Ramzinex — under Executive Orders 13224 and 13902, underscoring CEX compliance and AML risks, heightened regulatory pressure, and counterparty risk for crypto platforms.
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More than $3.84 billion in blockchain transactions have been traced between crypto exchange CoinEx and sanctioned Iranian entities over a period of more than seven years.
The findings come shortly after the US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned four Iranian exchanges, Nobitex, BitPin, Wallex, and Ramzinex, under Executive Orders 13224 and 13902.
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