Treasury sanctions major Iranian cryptocurrency exchange

The Treasury Department announced Tuesday that it would target Nobitex, Iran’s largest cryptocurrency exchange, as part of a tranche of new sanctions addressing the nation’s ability to launder illicit funds.

The measures come as part of Operation Economic Fury, Treasury’s parallel effort to the military’s Operation Epic Fury. The department previously blacklisted two U.K.-based cryptocurrency exchanges with ties to the Iranian regime after Tehran’s crackdown on protesters across the country in January.