US Sanctions Crypto Exchanges Over IRGC Transactions

The US Treasury Department has imposed sanctions on two digital-asset exchanges and a multinational company network accused of laundering billions of dollars, evading sanctions, and moving cryptocurrency for Iran's Islamic Revolutionary Guard Corps (IRGC).

The targeted entities include Shelbit Exchange, Aban Tether, and businessman Siavash Kayvanpour and companies linked to him in Georgia, Poland, and the United Arab Emirates.

The Treasury claimed that IRGC-linked digital addresses sent more than $1 million in cryptocurrency to Shelbit, while over $2 million flowed from Shelbit addresses to IRGC-linked wallets.