US Sanctions Iranian Crypto Exchanges Amid Alleged IRGC Ties
The US Treasury Department has imposed sanctions on two Iranian cryptocurrency exchanges and an individual accused of operating a network of front companies that facilitated transactions for Iran's Islamic Revolutionary Guard Corps (IRGC) and other groups.
The action, announced by the Treasury's Office of Foreign Assets Control (OFAC), targets Shelbit and Aban Tether, as well as an online gambling business that helped conceal the origin of funds and ultimately laundered proceeds for the benefit of the IRGC and individuals linked to the Iranian regime.
According to the Treasury, the network operated through a broad web of companies across multiple jurisdictions, including those that had already been sanctioned by Washington, such as Nobitex, Wallex, Bitpin, and Ramzinex. The action is part of Washington's broader sanctions campaign against Iran under President Donald Trump's National Security Presidential Memorandum 2.
The Treasury said it developed the action in coordination with the Internal Revenue Service-Criminal Investigation and offered up to $15 million through the State Department's Rewards for Justice program for information leading to the disruption of the IRGC's financial mechanisms and its various branches. US authorities said more than $2 million was transferred from accounts belonging to Shelbit to a digital address associated with the IRGC.