US Treasury Hits Cryptocurrency Exchanges Tied to Iran's Revolutionary Guard

The US Treasury Department has imposed sanctions on cryptocurrency exchanges that have been linked to money laundering and sanctions evasion by Iran's Islamic Revolutionary Guard Corps (IRGC).

The sanctions target Siavash Keyvanpour, who is accused of orchestrating illicit crypto activity through front companies established in Georgia, Poland, and the United Arab Emirates.

Keyvanpour's exchange, Sefbit, transferred millions of dollars to and from cryptocurrency wallets owned by the IRGC, according to the Treasury. The exchange also sent large amounts to Nobitex, Iran's biggest exchange, which had already been sanctioned.

The sanctions will block illicit digital asset transactions and fund flows worth millions of dollars tied to Sefbit, Avan Tether, and Nobitex. US-based assets of the sanctioned individuals and companies will be frozen, and transactions with US citizens and US companies will be banned.