US Treasury Sanctions Iranian Crypto Exchanges Over IRGC Ties

The US Treasury Department hit two Iranian digital asset exchanges, Shelbit and Aban Tether, with sanctions this Friday. Officials say these platforms moved funds linked to the Islamic Revolutionary Guard Corps. Along with the exchanges, the Treasury sanctioned network operator Siavash Kayvanpour for his role in managing these illegal financial channels.

Investigations show that over 1 million dollars in crypto flowed from IRGC wallets into Shelbit, with 2 million dollars returning to the group. Beyond the IRGC, Shelbit reportedly handled tens of millions for gambling networks and routed hundreds of millions to global exchanges. Meanwhile, Aban Tether processed large transactions with several other platforms already on the US blocked list.

This move is part of a broader push by the Treasury to dismantle illicit financial networks using digital assets. Treasury Secretary Scott Bessent stated that the government will continue to track down these networks regardless of whether they use dollars or crypto. These designations often lead stablecoin issuers to freeze associated wallets quickly, significantly limiting the reach of the sanctioned entities.

Traders should watch for how major crypto exchanges respond to these new designations. Previous actions by the US Treasury have caused stablecoin providers to blacklist addresses linked to these exchanges almost immediately. This remains a key area to monitor as authorities continue their pressure campaign against Iranian financial activity.