U.S. widens Iran crypto crackdown with sanctions on two exchanges
The U.S. Treasury has imposed sanctions on two crypto exchanges, Shelbit and Aban Tether, along with several individuals and entities for facilitating illicit financial transfers for the Iranian regime. These actions are part of an ongoing effort to dismantle shadow banking networks that the U.S. claims are being used to bypass financial restrictions and fund the 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.
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