U.S. widens Iran crypto crackdown with sanctions on two exchanges
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
The U.S. Treasury Department sanctioned two crypto exchanges, Shelbit and Aban Tether, accusing them of helping Iran move money and evade sanctions. This action expands a crackdown on Iranian crypto networks, including previous sanctions on exchanges such as Nobitex and wallets linked to Iran's central bank. The Treasury also sanctioned Siavash Kayvanpour and related companies for their role in moving funds connected to Iran.
Why it matters
The sanctions are part of the U.S. effort to disrupt Iran's use of digital assets and shadow banking to finance the Islamic Revolutionary Guard Corps (IRGC) amid ongoing tensions between the U.S. and Iran. This campaign puts pressure on crypto exchanges and stablecoin issuers to identify and block funds linked to sanctioned Iranian entities, highlighting the challenges cryptocurrencies pose in enforcing international sanctions.
Key context
The U.S. Treasury has been targeting Iranian crypto finance since early 2026, beginning with exchanges like Zedcex and Zedxion and later including Nobitex, the largest Iranian crypto exchange. Prior measures also targeted four crypto wallets linked to Iran's central bank, which prompted Tether to freeze $131 million associated with them. These steps come amid a growing concern that cryptocurrencies might enable sanctioned entities to bypass traditional financial systems.
Key numbers and entities
Sanctioned entities include crypto exchanges Shelbit and Aban Tether, individual Siavash Kayvanpour, and related companies in Georgia, Poland, and the UAE. The Treasury revealed IRGC-linked wallets sent more than $1 million in crypto to Shelbit addresses, which in turn sent over $2 million back to IRGC wallets. Kayvanpour-controlled wallets also transacted over $2 million with Nobitex. Tether froze approximately $131 million linked to sanctioned Iranian wallets.
What remains unclear
The source does not clarify if Aban Tether is connected to the stablecoin issuer Tether, with CoinDesk seeking confirmation. No further details are provided on the full scope of the transactions or the specific mechanisms used by these exchanges to facilitate the alleged sanctions evasion.