Bitpin

Bitpin was designated by OFAC on 2 June 2026 under Executive Order 13902 as part of the US Treasury's Economic Fury campaign targeting Iran's crypto sanctions-evasion infrastructure. The exchange handled approximately 10% of Iran's 2025 digital-asset inflows. It was one of four Iranian exchanges designated simultaneously that day, along with Nobitex, Wallex and Ramzinex, in what Treasury described as a coordinated effort to eliminate the crypto rails Iran had used to circumvent conventional banking sanctions.

Bitpin was known within Iran as a retail-focused platform with a relatively large individual user base. Its simultaneous closure with the market's other leading venues means Iranian retail crypto users face a sharp contraction in domestic trading options at a time when the rial had hit a record low of 1,746,000 to the dollar on 1 June.

The designation of Bitpin alongside the larger Nobitex and Ramzinex underscores OFAC's intent to eliminate redundancy in Iran's crypto ecosystem rather than target individual market leaders. Sanctioning all major venues in a single action prevents the market from simply migrating volume to surviving platforms.