US Sanctions Two Iran-Linked Crypto Exchanges Over Billions in Illicit Activity

The US Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on two Iran-linked cryptocurrency exchanges, Shelbit and Aban Tether. The move targets illicit financial networks that support Iran's Islamic Revolutionary Guard Corps (IRGC), which the US government claims is using digital assets to launder billions of dollars.

According to OFAC, IRGC-controlled wallets sent over $1 million in crypto to addresses tied to Shelbit, while wallets linked to Siavash Kayvanpour, an Iranian national sanctioned by OFAC, sent $2 million in digital assets to Nobitex, a recently added sanctioned entity. Shelbit is also accused of facilitating the transfer of $2 million in crypto to IRGC-controlled wallets.

Treasury Secretary Scott Bessent emphasized that the US government will continue to increase economic pressure on Iran, targeting all illicit financial networks that support its regime, regardless of whether they use dollars, rials, or cryptocurrencies.