US sanctions 2 crypto exchanges over Iran-linked funds

U.S. authorities sanctioned crypto exchanges Shelbit and Aban Tether after alleging that the platforms helped Iran evade restrictions and move funds connected to the Islamic Revolutionary Guard Corps. Summary OFAC sanctioned Shelbit, Aban Tether and Siavash Kayvanpour over alleged sanctions evasion. IRGC-linked wallets allegedly sent more than $1 million in crypto to Shelbit addresses. Shelbit addresses reportedly transferred over $2 million to wallets controlled by the IRGC. Kayvanpour-linked wallets allegedly sent more than $2 million to sanctioned exchange Nobitex. OFAC targets Shelbit and Aban Tether The U.S. Treasury Department’s Office of Foreign Assets Control announced the sanctions on Aug. 7 as part of Washington’s effort to disrupt Iran’s access to international financial markets. OFAC accused Shelbit and Aban Tether of facilitating illicit cryptocurrency transactions and sanctions evasion. The agency said the Iranian government relied on exchanges with limited or no regulatory oversight to move digital assets through corporate networks and an online gambling operation. The sanctions also cover Iranian national Siavash Kayvanpour and companies tied to him in Georgia, Pola...