Home›Crypto›Regulation›U.S. sanctions two Iranian crypto exchanges, expanding…

U.S. sanctions two Iranian crypto exchanges, expanding crackdown

OFAC said Shelbit helped IRGC-linked wallets move more than $1 million in crypto, while more than $2 million flowed from Shelbit addresses to IRGC wallets.

Reported · Written up by our desk · Regulation

The U.S. Treasury’s OFAC has sanctioned two crypto exchanges, Shelbit Exchange and Iran-based Aban Tether, as Washington widens its campaign to limit Iran’s access to foreign currency and banking alternatives through digital assets, according to CoinDesk.

The Treasury said IRGC-linked wallets sent more than $1 million in crypto to Shelbit addresses, and more than $2 million flowed from Shelbit addresses back to IRGC wallets.

OFAC also alleged that wallets belonging to or controlled by Siavash Kayvanpour sent over $2 million to Nobitex, Iran’s largest crypto exchange, and that Aban Tether processed millions of dollars in transactions involving other sanctioned Iranian exchanges.

Beyond the exchange designations, the U.S. sanctioned individuals, companies, and a network tied to foreign exchange activity described as part of Iran’s shadow banking system, which the Treasury said moved hundreds of millions of dollars, including funds connected to overseas oil sales.

More like this

Sources