US Sanctions Iranian Crypto Exchanges Over Alleged IRGC Financial Links

The US Treasury Department's Office of Foreign Assets Control (OFAC) has imposed sanctions on two Iranian digital asset exchanges, Shelbit and Aban Tether, along with an individual accused of operating a network of front companies used to facilitate cryptocurrency transactions.

The sanctions are part of Washington's broader campaign against Iran under President Donald Trump's National Security Presidential Memorandum 2, which aims for maximum economic pressure on Tehran.

The Treasury Department claims that Iranian actors have exploited unlicensed or lightly regulated cryptocurrency exchange platforms to move large volumes of digital assets, using a web of companies across multiple jurisdictions and an online gambling business to conceal the origin of funds.

According to OFAC, over $2 million was transferred from Shelbit accounts to a digital address associated with the IRGC, while Aban Tether allegedly processed millions of dollars in transactions for the IRGC in cooperation with other Iranian cryptocurrency exchanges that have already been sanctioned by Washington.