US Treasury sanctions Iranian crypto exchanges Shelbit and Aban Tether

On August 7, 2026, the US Treasury sanctioned Iranian cryptocurrency exchanges Shelbit and Aban Tether under its 'Economic Fury' campaign, accusing them of facilitating transactions for the Islamic Revolutionary Guard Corps (IRGC). Shelbit founder Siavash Kayvanpour and his multi-country network were also blacklisted. Shelbit allegedly processed over $6.3 billion in transactions, including funds for IRGC-linked wallets and a network of 2,000 gambling sites, while Aban Tether moved millions for previously sanctioned Iranian exchanges.

Shelbit Exchange sanctions

• ▪Dubai's Virtual Assets Regulatory Authority fined and took enforcement actions against Shelbit in January 2025 and July 2026 for operating without a license
• ▪According to a report by blockchain analytics firm TRM Labs, the cryptocurrency exchange Shelbit handled more than $6.3 billion in transactions between May 2024 and March 2026
• ▪Binance denied that Shelbit held an account on its platform, disputed reports that $540 million passed from Shelbit to Binance, and stated it froze associated user accounts
• ▪On August 7, 2026, the US Treasury's Office of Foreign Assets Control sanctioned the Iran-linked cryptocurrency exchange Shelbit for facilitating transactions for the Islamic Revolutionary Guard Corps

Aban Tether sanctions

• ▪According to the US Office of Foreign Assets Control, the sanctioned Iranian cryptocurrency exchange Nobitex processed more than half of all Iranian cryptocurrency inflows in 2025
• ▪The US Treasury blacklisted the cryptocurrency exchange Aban Tether for processing millions of dollars in transactions for previously sanctioned Iranian platforms, including Nobitex, Wallex, Bitpin, and Ramzinex
• ▪On August 7, 2026, the US Treasury's Office of Foreign Assets Control sanctioned the Iran-linked cryptocurrency exchange Shelbit for facilitating transactions for the Islamic Revolutionary Guard Corps

IRGC crypto transactions

• ▪The US Treasury alleged that cryptocurrency wallets controlled by Siavash Kayvanpour transferred more than $2 million to Nobitex, an Iranian exchange sanctioned in June 2026
• ▪The US Treasury Department alleged that cryptocurrency wallets belonging to the Islamic Revolutionary Guard Corps sent over $1 million to Shelbit and received over $2 million back

Siavash Kayvanpour designation

• ▪On August 7, 2026, the US Treasury sanctioned Siavash Kayvanpour, the Iran-born founder of Shelbit who holds citizenship in Dominica and Afghanistan
• ▪The US Treasury sanctioned Siavash Kayvanpour's multi-country business network, including SHPS Shelbit in Georgia, Shelbit Technologies in Poland, and Crypto Home and NFT Home DMCC in the UAE

Iranian gambling network laundering

• ▪The US Treasury accused Shelbit of laundering tens of millions of dollars for a network of over 2,000 gambling websites managed by two Iranian social media influencers
• ▪A Reuters investigation reported that Shelbit processed at least $4 billion over two years involving Iranian gambling websites, the Iranian central bank, and entities linked to the IRGC

Economic Fury campaign expansion

• ▪The sanctions against Shelbit and Aban Tether expand the Trump administration's 'Economic Fury' campaign, which has seized approximately $1 billion in Iranian cryptocurrency since its launch
• ▪The US State Department's Rewards for Justice program offered up to $15 million for information disrupting the financial mechanisms of the Islamic Revolutionary Guard Corps
• ▪US Treasury Secretary Scott Bessent stated on August 7, 2026, that the Iranian regime's reliance on digital assets and shadow banking networks proves the Economic Fury campaign is working