Shafaq News- Washington/ Tehran
The United States on Friday sanctioned two digital-asset exchanges and a multinational company network accused of laundering billions of dollars, evading sanctions, and moving cryptocurrency for Iran’s Islamic Revolutionary Guard Corps (IRGC), the Treasury Department announced.
The Treasury targeted Shelbit Exchange, Iran-based Aban Tether, and businessman Siavash Kayvanpour and companies linked to him in Georgia, Poland, and the United Arab Emirates. It claimed IRGC-linked digital addresses sent more than $1 million in cryptocurrency to Shelbit, while more than $2 million flowed from Shelbit addresses to IRGC-linked wallets.
Addresses owned or controlled by Kayvanpour also allegedly transferred more than $2 million to Nobitex, Iran’s largest digital-asset exchange, which Washington sanctioned on June 2.
Shelbit supposedly serviced a large Persian-language online gambling network, with tens of millions of dollars in digital assets allegedly laundered through the exchange. Reuters reported on July 31 that at least $4 billion had moved through Shelbit in an Iran-linked network involving more than 2,000 gambling websites, Iran’s central bank, and parties linked to the IRGC. Shelbit denied knowingly facilitating money laundering, sanctions evasion, terrorist financing, or transactions for sanctioned or military entities.
Aban Tether was separately sanctioned for operating in Iran’s financial sector after processing millions of dollars in transactions involving previously designated Iranian exchanges, including Nobitex, Wallex, Bitpin, and Ramzinex.
On June 2, Treasury sanctioned Nobitex and three other exchanges, saying Nobitex processed more than half of all Iranian digital-asset inflows in 2025 and facilitated transactions linked to the IRGC, and on July 24, the Treasury’s Office of Foreign Assets Control (OFAC) targeted four people and nine entities tied to Iranian financier Babak Zanjani, including businesses involved in digital-asset trading and alleged sanctions evasion.
Treasury Secretary Scott Bessent stated that Friday’s action formed part of the Trump administration’s “Economic Fury” and maximum-pressure campaign, pledging to pursue Iranian financial networks operating through dollars, rials, or cryptocurrency. The State Department’s Rewards for Justice program is offering up to $15 million for information that helps disrupt the IRGC’s financial mechanisms.
Read more: US tightens sanctions on Iran's financial network
On August 5, Treasury removed counterterrorism sanctions from Iraq’s Fly Baghdad airline, Iraq Express, and two Boeing 737 aircraft previously targeted over alleged support for the IRGC-Quds Force. Treasury told Reuters the delisting followed “significant behavioral changes” and did not represent a change in US policy toward Iran or the IRGC.
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