The U.S. has imposed sanctions on two Iranian exchanges, Shelbit and Aban Tether, to tighten control over cryptocurrency operations linked to Iran.
The U.S. Treasury Department has ramped up its efforts to curb Iran's cryptocurrency usage by imposing sanctions on two exchanges, Shelbit and Aban Tether. This move is aimed at limiting Iran's access to digital currencies and foreign exchange.
New Sanctions Target Iranian Exchanges
As stated by the Office of Foreign Assets Control (OFAC), Shelbit and Aban Tether are charged with enabling financial transfers for Iran, allowing the country to bypass established sanctions. This action builds upon prior sanctions initiated in 2026, which included measures against several other Iranian exchanges and wallets linked to the Iranian central bank.
The sanctions are particularly noteworthy amid rising tensions between the U.S. and Iran, complicating the operational environment for stablecoin providers and exchanges involved with Iranian financial activities.
- The Treasury's sanctions against Shelbit and Aban Tether are aimed at disrupting Iran's fund movement outside traditional banking.
- This is part of a larger initiative targeting various Iranian cryptocurrency platforms and wallets.
- These actions heighten risks for organizations processing transactions tied to Iranian entities.
Recent reports indicate that wallets linked to the Islamic Revolutionary Guard Corps (IRGC) transferred more than $1 million in cryptocurrency to Shelbit, with over $2 million sent back to IRGC wallets. Additionally, significant transactions from Siavash Kayvanpour's wallets to Iran's largest crypto exchange, Nobitex, have been noted.
Aban Tether has also been associated with processing large transactions from other sanctioned exchanges, including Nobitex and Wallex.
In addition to these sanctions, OFAC has targeted a network of foreign exchange houses and individuals alleged to support Iran's covert banking operations, facilitating movements of hundreds of millions, including funds from oil sales.
"The Iranian regime's dependence on cryptocurrency and shadow banking shows that our Economic Fury strategy is effective," remarked Treasury Secretary Scott Bessent. "Treasury will relentlessly pursue and dismantle the illicit financial systems sustaining the regime, regardless of the currency used."
The recent measures signal the U.S. government's ongoing strategy to cut off Iran's access to foreign capital and global financial systems. While digital assets present alternative funding routes for sanctioned entities, the traceability of blockchain transactions aids regulatory scrutiny.
This recent round of sanctions follows earlier actions, including the January sanctions on Zedcex and Zedxion, marking the first explicit targeting of crypto exchanges under Iranian sanctions. In June, Nobitex and others were blacklisted, intensifying the crackdown.
Last month, the U.S. also imposed sanctions on four digital wallets connected to Iran's central bank, leading to Tether, the issuer of USDT, freezing around $131 million in those wallets. Two Iranian maritime insurance firms alleged to be involved in financing the IRGC were also sanctioned.
As these sanctions expand, pressure mounts on cryptocurrency exchanges and stablecoin providers to identify and block transactions associated with sanctioned Iranian entities.
