The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned two Iranian-linked crypto exchanges and an individual for facilitating money laundering, increasing pressure on the re
On August 7, 2026, the US government took significant action against Iran by sanctioning Shelbit and Aban Tether, two cryptocurrency exchanges, along with Siavash Kayvanpour, an Iranian national. These actions were part of a broader effort to disrupt financial flows supporting the Islamic Revolutionary Guard Corps (IRGC) through illicit cryptocurrency activity.
The sanctions targeted these entities for their role in facilitating $5 million worth of digital assets for Iran's regime. Shelbit was found to have transferred $2 million in crypto directly to IRGC-controlled wallets, while Kayvanpour’s associated wallets sent another $2 million to Nobitex, which had been previously sanctioned by the US.
This latest move comes amid ongoing military conflicts between the U.S. and Iran. The OFAC has already designated Zedcex and Zedxio as sanctioned entities in January and frozen over $131 million worth of wallets linked to Iran in June. These actions underscore a concerted effort by the U.S. government to cut off financial support for the regime.
The sanctions highlight the growing importance of cryptocurrency exchanges in facilitating illicit activities, particularly those involving regimes like Iran’s IRGC. The measures are likely to have significant implications on these exchanges' operations and could lead to further restrictions or even shutdowns if they continue to operate under sanctioned entities.
For traders, this development signals a heightened risk environment for crypto assets linked to countries with sanctions. It also suggests that the U.S. government will intensify its efforts to monitor and regulate cryptocurrency transactions involving sensitive regions and regimes.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.