US sanctions Dubai crypto exchange for aiding Iran's IRGC, following a Reuters report
Treasury said Shelbit moved $4 billion in an Iran-linked network tied to the IRGC and illegal gambling sites.
- On Friday, the U.S. Treasury sanctioned Dubai-based Shelbit Exchange and Iran-based Aban Tether for laundering billions of dollars to fund the Islamic Revolutionary Guard Corps through networks that bypass Western sanctions.
- A July 31 Reuters investigation identified Shelbit as the hub of a $4 billion Iranian sanctions evasion scheme involving more than 2,000 gambling websites, Iran's central bank, and IRGC-linked parties.
- Iran-Born expatriate Siavash Kayvanpour, who allegedly operated Shelbit and linked companies in Georgia and Poland, was also sanctioned; IRGC-linked addresses sent more than $1 million to Shelbit while over $2 million flowed back.
- Describing the action as part of 'Economic Fury,' Treasury Secretary Scott Bessent pledged, "Whether in dollars, rials, or crypto, Treasury will hunt down and dismantle the illicit financial networks that keep the regime afloat."
- Dubai's Virtual Assets Regulatory Authority previously accused Shelbit of violating money-laundering laws, as authorities intensify efforts to block Iranian-linked funds and cut Iran off from global financial markets.
32 Articles
32 Articles
US Sanctions Six Entities, One Individual Over Iran’s Digital Asset Network Amid Strait of Hormuz Tensions
The conflict between the United States and Iran continues to intensify, with military threats, attacks and growing tensions surrounding the strategically important Strait of Hormuz keeping the region on high alert.Amid the escalating tensions, the United States on Friday announced sanctions against six entities and one individual allegedly linked to Iran's illicit digital asset network. Washingt
US Sanctions on Six Entities, One Individual Linked to Iran's Illicit Digital Asset Network Following Strait of Hormuz Attacks
Get latest articles and stories on World at LatestLY. "The Iranian regime launders billions of dollars by moving illicit funds through various channels, including digital assets exchanges. Today, the United States is imposing sanctions on six entities and one individual--two major digital asset exchanges the regime leverages to maintain international financial connectivity, the ringleader of a network of companies that supports illicit digital a…
US sanctions on six entities, one individual linked to Irans illicit digital asset network following Strait of Hormuz attacks - The Tribune
"The Iranian regime launders billions of dollars by moving illicit funds through various channels, including digital assets exchanges. Today, the United States is imposing sanctions on six entities and one individual--two major digital asset exchanges the regime leverages to maintain international financial connectivity, the ringleader of a network of companies that supports illicit digital asset activities, and his firms in multiple jurisdictio…
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