U.S. widens Iran crypto crackdown with sanctions on two exchanges

PolicyU.S. widens Iran crypto crackdown with sanctions on two exchangesThe Treasury's OFAC targeted Shelbit and Aban Tether as Washington continues its effort to cut Tehran's access to crypto and foreign currency.By Krisztian Sandor|Edited by Aoyon Ashraf17 min ago2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowThe U.S. Treasury sanctioned crypto exchanges Shelbit and Aban Tether, saying they helped Iran move money and evade sanctions.The action extends a 2026 crackdown that has targeted Nobitex, other Iranian exchanges and crypto wallets linked to Iran's central bank.The sanctions come amid the U.S.-Iran war, raising the stakes for stablecoin issuers and exchanges handling funds connected with Iranian entities.The U.S. Treasury Department sanctioned two crypto exchanges it says helped Iran move money outside the traditional banking system, widening Washington's campaign against digital asset networks allegedly funding the Islamic Revolutionary Guard Corps (IRGC).The Treasury’s Office of Foreign Assets Control (OFAC) targeted Shelbit Exchange and Iran-based Aban Tether, according to a Friday press release. The agency also sanctioned Siavash Kayvanpour and several companies tied to him in Georgia, Poland and the United Arab Emirates. While the exchange doesn’t appear to be connected to stablecoin issuer Tether, CoinDesk has reached out to Tether to confirm if the exchange is unrelated to the firm.IRGC-linked wallets sent more than $1 million in crypto to Shelbit addresses while more than $2 million flowed from Shelbit addresses to IRGC wallets, the Treasury said. Wallets belonging to or controlled by Kayvanpour also sent over $2 million to Nobitex, Iran's largest crypto exchange, according to the Treasury.Aban Tether has processed millions of dollars in transactions involving sanctioned Iranian exchanges, including Nobitex, Wallex, Bitpin and Ramzinex, the press release added.Additional…

U.S. widens Iran crypto crackdown with sanctions on two exchanges

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