US Sanctions Iranian Crypto Exchanges for Laundering Millions

• •US sanctions target Iranian crypto exchanges Shelbit and Aban Tether for laundering funds.
• •Shelbit allegedly processed over $2 million in transactions linked to the IRGC.
• •The sanctions are part of the US's ongoing 'Economic Fury' campaign against Iran.

The US Treasury imposed sanctions on two Iranian crypto exchanges, Shelbit and Aban Tether, for laundering millions for Iran's Islamic Revolutionary Guard Corps (IRGC). The sanctions were part of the 'Economic Fury' campaign aimed at disrupting Iran's financial networks. Shelbit, operated by Siavash Kayvanpour, allegedly facilitated over $2 million in transactions linked to the IRGC, while Aban Tether processed millions in cooperation with other sanctioned exchanges. The Treasury's actions included freezing US assets and offering rewards for information on the IRGC's financial operations. This move is part of a broader strategy to increase economic pressure on Iran amidst ongoing negotiations. The exchanges were added to the Specially Designated Nationals List, blocking their access to the US financial system.