US Treasury Slams Brakes on Iran's Crypto Sanctions-Evasion Schemes

The US Treasury has expanded its Iran sanctions to cover $100 million in digital asset activity. The move targets Iranian crypto exchanges, including Shelbit and Aban Tether, which have been accused of facilitating sanctions evasion through cryptocurrency transfers allegedly linked to the Islamic Revolutionary Guard Corps (IRGC).

According to reports, the Office of Foreign Assets Control (OFAC) has added these platforms to its sanctions list for enabling billions in illicit transactions. The Treasury's actions aim to disrupt Iran's ability to use cryptocurrencies to circumvent economic penalties.

The sanctions expansion comes as a Dubai-based gambling network has been linked to a massive $4 billion Iranian sanctions-evasion operation, which allegedly routed millions through Shelbit, an unlicensed exchange tied to the scheme.