US Sanctions Two Iranian Crypto Exchanges Over Alleged Money Laundering

The US Treasury Department has imposed sanctions on two Iranian cryptocurrency exchanges, Shelbit and Aban Tether, for allegedly facilitating money laundering and helping individuals evade US sanctions.

The sanctions were made by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury, which targets cryptocurrency exchange platforms as a major area of focus in its investigation into sanctioned firms.

According to Scott Bessent, Secretary of the Treasury, 'We are going after illicit financial networks in dollars, rials or cryptocurrencies that sustain the Iranian regime.'