US Sanctions Two Crypto Exchanges Linked to Iran's Islamic Revolutionary Guard Corps

The US Treasury has widened its crackdown on Iran's cryptocurrency activities by sanctioning two more exchanges: Shelbit Exchange and Aban Tether. According to the Treasury, wallets attributed to Iran's Islamic Revolutionary Guard Corps (IRGC) received over $2 million from Shelbit Exchange addresses, while sending back just over $1 million.

The sanctions also target Siavash Kayvanpour and several firms linked to him in Georgia, Poland, and the UAE. Treasury says Kayvanpour's wallets transferred over $2 million to Nobitex, Iran's largest crypto exchange.

Aban Tether has handled millions of dollars in transactions tied to sanctioned Iranian exchanges, including Nobitex, Wallex, Bitpin, and Ramzinex. The Treasury claims that these exchanges have assisted Iran in moving money beyond the reach of conventional banking.

Treasury Secretary Scott Bessent stated that 'The Iranian regime's reliance on digital assets and shadow banking networks is further evidence that Economic Fury is working.' The sanctions are part of a broader effort to sever Tehran from foreign currency and international financial markets.