New US sanctions against Iran: Crypto exchanges and 'shadow banking' network targeted

The US administration has expanded its sanctions list against Iran to include the digital asset market and financial intermediary networks. The US Department of the Treasury announced that it is targeting individuals and companies linked to two cryptocurrency exchanges that allegedly provide funding to the Islamic Revolutionary Guard Corps and assist in circumventing sanctions.

According to the ministry's statement, the sanctions were implemented against a financial network consisting of digital asset platforms named Shelbit Exchange and Aban Tether, as well as shell companies reportedly operating in various countries.

CRYPTO PLATFORMS AND SHADOW BANKING NETWORK

The US Department of the Treasury alleged that Iran-linked actors have been conducting high-value cryptocurrency transfers through unlicensed or limited-oversight digital asset platforms. The statement claimed that these transactions were carried out through companies established to hide the source of funds and an online gambling network.

The ministry argued that illegal proceeds were laundered through these methods and made available to the Islamic Revolutionary Guard Corps and individuals linked to the regime. In this context, Shelbit Exchange and Aban Tether were added to the sanctions list.

The sanctions decision also included Siavash Kayvanpour, who was identified as the leader of a multinational corporate network allegedly supporting illegal digital asset transactions. It was reported that Kayvanpour, who is stated to be of Iranian origin, holds citizenship in Dominica and Afghanistan and resides in the United Arab Emirates.

In a separate statement, the US Department of the Treasury also announced new steps against a 'shadow banking' system said to be linked to Iran. It was reported that individuals and entities allegedly facilitating the transfer of hundreds of millions of dollars through networks consisting of banks, shell companies, and currency exchange offices have been added to the sanctions list.

Meanwhile, the ministry had removed the Iraq-based airline company Fly Baghdad from the sanctions list a day earlier. The company had previously been sanctioned on the grounds that it was linked to the Islamic Revolutionary Guard Corps.

News Source: 12punto