US Treasury Sanctions Crypto Exchanges Linked to Iranian Financial Activity
The US Treasury has imposed sanctions on several cryptocurrency exchanges that allegedly laundered millions of dollars for Iran.
According to a report, the Treasury Department's Office of Foreign Assets Control (OFAC) has designated five virtual currency exchange service providers for their alleged involvement in facilitating financial transactions related to Iran.
The targeted exchanges are: Suex OTC and its owner Roman Sterliuk; Suex Exchange; and three other unnamed companies. The report states that these exchanges allegedly processed millions of dollars' worth of transactions on behalf of Iranian nationals, including those involved in the country's nuclear program.
Suex OTC is said to have facilitated over $10 million in transactions related to Iran between 2018 and 2021. These transactions allegedly included purchases of Bitcoin (BTC) and other cryptocurrencies.