Elizabeth Warren Says US Enemies Exploiting Crypto To 'Move Billions' After Iran Reportedly Uses CoinEx To Process Huge Sums

Sen.

Elizabeth Warren (D-Mass.) expressed concerns on Sunday over the potential misuse of cryptocurrencies by America’s adversaries.

Warren Says Crypto Legislation Will Make The Problem Worse Warren cited a Wall Street Journal report on X detailing how Iran-affiliated entities moved billions in transactions through CoinEx, a cryptocurrency exchange that withdrew from the U.S. after a 2023 lawsuit. “More evidence that our adversaries exploit crypto to move billions,” the senior lawmaker said.

Warren argued that the cryptocurrency legislation, i.e., the Clarity Act, would make the problem “worse” by creating new loopholes and urged Congress to strengthen the bill before passage.

More evidence that our adversaries exploit crypto to move billions.

The Clarity Act, as it's currently written, would make this problem worse.

Congress should be strengthening illicit finance standards, not creating new loopholes. pic.twitter.com/61lqFgRntH — Elizabeth Warren (@SenWarren) June 28, 2026 CoinEx Serving As A Conduit? The WSJ report noted that CoinEx has played a “growing role” in connecting Iran’s cryptocurrency operations to the global markets, with wallets hosted by the exchange moving more than $3.84 billion over the last 7 years.

The wallets received hacked cryptocurrency that originated with Iran’s Central Bank and were used to transact directly with accounts U.S. officials have since linked to the Islamic Revolutionary Guard Corps, the report said.

In 2023, CoinEx was sued by New York Attorney General Letitia James for allegedly conducting business without proper registration in the state of New York.

The exchange didn’t immediately return ’s request for comment.

Read Also: Elizabeth Warren Blames Trump's Tariffs As Inflation Reaches 3-Year High: 'Health Care, Food, Gas And Housing—All Up In May' Iran Using Crypto To Bypass Sanctions? Warren has repeatedly flagged concerns that cryptocurrency exchanges are helping move money into and out of Iran.

In May, she expressed concerns about findings that Nobitex, Iran’s leading cryptocurrency trading platform, processed billions worth of trades on Tron (CRYPTO: TRX) and BNB Chain (CRYPTO: BNB).

Nobitex has been under increased scrutiny from U.S. regulators and policymakers for its continued operations during wartime.

The platform reportedly handles about 70% of Iran’s cryptocurrency activity and claims to serve roughly 11 million users.

Read Also: Elizabeth Warren Warns AI Could Eliminate Millions Of Jobs As Oracle Becomes Latest Big Tech To Reveal 21,000 Workforce Cuts: 'We Shouldn't Wait…' Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.

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