Washington, Aug 8 (IANS) The United States imposed sanctions on two digital asset exchanges and a network of companies it accused of helping Iran launder billions of dollars, evade sanctions and support the Islamic Revolutionary Guard Corps.
The action targets six entities and one individual across Iran, Georgia, Poland and the United Arab Emirates. It follows what the State Department described as Iranian attacks on commercial vessels in the Strait of Hormuz earlier this week.
The State Department said Tehran uses digital asset exchanges to maintain access to the international financial system. It said the sanctions were intended to deny Iran resources used to threaten neighbouring countries, support terrorism and advance its nuclear programme.
The Treasury Department identified Siavash Kayvanpour as the operator of a multinational network that supports illicit digital currency activity. Kayvanpour was born in Iran, holds additional citizenship from Dominica and Afghanistan, and has resided in the UAE, it said.
Kayvanpour operates the Shelbit Exchange through SHPS Shelbit, a company based in Georgia, according to the Treasury. Digital currency addresses belonging to the IRGC sent more than $1 million in assets to Shelbit addresses, while more than $2 million moved from Shelbit to IRGC addresses, it said.
Addresses belonging to or controlled by Kayvanpour also sent more than $2 million in digital assets to Nobitex, an Iranian exchange already under US sanctions.
“The Iranian regime’s reliance on digital assets and shadow banking networks is further evidence that Economic Fury is working,” Treasury Secretary Scott Bessent said.
“We will continue to increase the economic pressure. Whether in dollars, rials, or crypto, Treasury will hunt down and dismantle the illicit financial networks that keep the regime afloat.”
The Treasury said Shelbit services a large Persian-language online gambling network. Tens of millions of dollars in digital assets linked to that operation were allegedly laundered through the exchange.
The sanctions also cover UAE-based Shelbit General Trading LLC, Crypto Home DMCC and NFT Home DMCC. Poland-based Shelbit Technologies Ltd was designated as well.
The UAE’s Virtual Assets Regulatory Authority took enforcement action against Shelbit General Trading in January 2025 and July 2026, the Treasury said. It also acted against Crypto Home in January 2025.
OFAC separately sanctioned Aban Tether, an Iran-based exchange accused of processing transactions worth millions of dollars involving Nobitex and other previously designated exchanges, including Wallex, Bitpin and Ramzinex.
The State Department’s Rewards for Justice programme is offering up to $15 million for information leading to disruption of the IRGC’s financial mechanisms. It is seeking details about sanctions-evasion networks, front companies, exchange houses, revenue sources and transfers to Iran-backed armed groups.
The IRGC was established after Iran’s 1979 revolution as a branch of the country’s military. The United States designated it a Foreign Terrorist Organisation in April 2019 and had earlier named it a Specially Designated Global Terrorist under US counterterrorism authorities.
–IANS
lkj/rs
