US Sanctions Shelbit and Aban Tether for Alleged Iran-Linked Crypto Transactions
The US Treasury Department's Office of Foreign Assets Control (OFAC) has sanctioned two cryptocurrency exchanges, Shelbit and Aban Tether, for allegedly helping Iran evade restrictions and move funds connected to the Islamic Revolutionary Guard Corps (IRGC).
According to OFAC, IRGC-linked wallets sent more than $1 million in crypto to Shelbit addresses, while Shelbit-linked wallets transferred over $2 million to addresses controlled by the IRGC.
The sanctions also cover Iranian national Siavash Kayvanpour and companies tied to him in Georgia, Poland, and the United Arab Emirates. Treasury described Kayvanpour as the operator of a network of front companies connected to Shelbit.
The US has been cracking down on Iran's access to international financial markets, with OFAC accusing Shelbit and Aban Tether of facilitating illicit cryptocurrency transactions and sanctions evasion.