US Sanctions Two Iranian Crypto Exchanges Over IRGC Ties

The US Treasury has imposed sanctions on two Iranian cryptocurrency exchanges, Shelbit and Aban Tether, for facilitating transactions for the Islamic Revolutionary Guard Corps (IRGC). The move is part of the Trump administration's 'Economic Fury' campaign to isolate Iran's financial sector.

According to reports, Siavash Kayvanpour, the founder of Shelbit, was also sanctioned, along with his companies in Georgia, Poland, and the UAE. OFAC specified that Shelbit processed over $1 million in crypto and pulled back over $2 million from wallets associated with the IRGC.

The US Treasury's Office of Foreign Assets Control (OFAC) accused Shelbit of providing services to a network of more than 2,000 gambling websites managed by two Iranian social media influencers. The exchange processed tens of millions of dollars in transactions for this network.

This information overlaps with the findings of a Reuters investigation that revealed Shelbit had moved at least $4 billion in two years through its platforms. This sum was transferred via Iranian gambling sites, the Iranian central bank, and the IRGC.