US Treasury’s OFAC sanctions 2 Iran-linked crypto exchanges
The US government sanctioned an individual and two crypto exchanges it said facilitated money laundering for a combined $5 million in digital assets linked to Iran.
The US government sanctioned an individual and two crypto exchanges for allegedly facilitating money laundering activities linked to Iran, totaling over $5 million in digital assets. The Office of Foreign Assets Control (OFAC) within the US Treasury Department announced these sanctions against two exchanges, Shelbit and Aban Tether, for their involvement in "illicit cryptocurrency activity and sanctions evasion."
These measures were taken amid ongoing military actions between the two countries. OFAC also targeted Iranian national Siavash Kayvanpour and several crypto wallets and companies associated with him, including one linked to Shelbit.
Treasury Secretary Scott Bessent stated that the US would continue to increase economic pressure on Iran, targeting illicit financial networks that support the regime. According to the US Treasury, Iranian-controlled wallets sent more than $1 million in crypto to addresses associated with Shelbit, while wallets linked to Kayvanpour sent $2 million in digital assets to another Iranian exchange, Nobitex, which was also sanctioned by the US in June.
OFAC's actions are part of a series of measures aimed at limiting Iran's financial capabilities as the two nations continue their military conflict.
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