U.S. Treasury Sanctions Iranian-Linked Crypto Exchanges Shelbit and Aban Tether

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The U.S. Treasury has sanctioned Iranian-linked crypto exchanges Shelbit and Aban Tether, citing violations of cryptocurrency regulations. The Treasury’s OFAC also targeted operator Siavash Kayvanpour and associated firms in Georgia, Poland, and the UAE. These exchanges allegedly facilitated the movement of substantial cryptocurrency funds to support Iran’s IRGC and other sanctioned entities. According to the Treasury, IRGC wallets sent over $1 million to Shelbit and received more than $2 million in return. This action adds to ongoing global enforcement efforts targeting illicit cryptocurrency activity.

PANews, August 8: According to The Block, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on the cryptocurrency exchanges Shelbit and Aban Tether, as well as on Siavash Kayvanpour, the operator of Shelbit, and multiple companies he owns and controls in Georgia, Poland, and the UAE. OFAC alleges that these exchanges were used to transfer substantial amounts of cryptocurrency, evade sanctions, and support the Islamic Revolutionary Guard Corps (IRGC) and other groups designated by the United States as terrorist organizations. The U.S. Treasury stated that IRGC wallets sent over $1 million in cryptocurrency to Shelbit and received over $2 million from the exchange.

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