US Sanctions Iranian Crypto Exchanges Over Alleged Illicit Finance
- The U.S. sanctioned two Iranian crypto exchanges over alleged illicit finance.
- Treasury linked the exchanges to Iran’s shadow banking and IRGC network.
- The sanctions increase pressure on crypto firms with business ties to Iran.
The United States imposed sanctions on two Iranian cryptocurrency exchanges, accusing them of helping Tehran evade sanctions through illicit financial activity.
The U.S. Treasury Department announced the measures on Friday, saying the exchanges were part of a broader network tied to Iran’s shadow banking system. Treasury said Iranian actors used lightly regulated crypto platforms, corporate networks and online gambling operations to move digital assets.
The department linked the activity to Iran’s Islamic Revolutionary Guard Corps, or IRGC. The sanctions follow a Reuters investigation that identified Dubai-based Shelbit as a key hub in t…
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