US Treasury Sanctions Two Iranian Crypto Exchanges Over IRGC Ties

The U.S. Treasury's Office of Foreign Assets Control has imposed sanctions on two Iranian cryptocurrency exchanges, Shelbit and Aban Tether, for allegedly facilitating financial support for Iran's Islamic Revolutionary Guard Corps (IRGC) and enabling illicit finance activities.

The action, announced [Date], marks a significant escalation in Washington's efforts to disrupt Tehran's use of digital assets to bypass international sanctions. The Treasury Department accused Shelbit and Aban Tether of processing transactions worth millions of dollars, providing a critical financial lifeline for the IRGC's covert operations.

The sanctions freeze any U.S.-based assets of the exchanges and prohibit American citizens and companies from conducting business with them. This move also extends to any entities owned 50% or more by the sanctioned firms, effectively cutting them off from the global financial system.