--- title: "US Treasury Sanctions Crypto Exchanges Shelbit and Aban Tether Over IRGC Ties" description: "OFAC targeted two platforms, an international front company network, and ringleader Siavash Kayvanpour under counter-terrorism authorities." url: https://basisdesk.news/news/treasury-sanctions-shelbit-aban-tether-iran-irgc published: 2026-10-09T21:00:59.976Z modified: 2026-10-09T21:00:59.976Z section: Regulation & Policy author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: bearish tickers: [BTC, USDT] tags: [OFAC, sanctions, Iran, IRGC, Aban Tether, Shelbit, IRS-CI] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # US Treasury Sanctions Crypto Exchanges Shelbit and Aban Tether Over IRGC Ties OFAC targeted two platforms, an international front company network, and ringleader Siavash Kayvanpour under counter-terrorism authorities. ## At a glance - **What happened:** The US Treasury sanctioned crypto exchanges Shelbit and Aban Tether alongside network operator Siavash Kayvanpour on Aug. 7, 2026, for supporting Iran's IRGC. - **Why it matters:** The action blocks US assets and cuts global financial access for a network accused of laundering tens of millions in crypto through offshore fronts and online gambling. - **Who is affected:** Shelbit, Aban Tether, Siavash Kayvanpour, their affiliated entities in Georgia, Poland, and the UAE, and global crypto platforms exposed to their transaction flows. - **Takes effect:** Aug. 7, 2026 - **What's next:** The State Department is soliciting leads on IRGC financial networks with rewards of up to $15 million. - **Status:** enforcement - **Primary source:** [Treasury sanctions crypto exchanges funding Iran’s IRGC and enabling illicit finance | Internal Revenue Service](https://www.irs.gov/compliance/criminal-investigation/treasury-sanctions-crypto-exchanges-funding-irans-irgc-and-enabling-illicit-finance) — irs.gov ## Key points - OFAC sanctioned digital asset exchanges Shelbit and Aban Tether for moving funds tied to Iran's IRGC and previously blacklisted Iranian exchanges. - Network ringleader Siavash Kayvanpour and five related entities across Georgia, Poland, and the UAE were designated under counter-terrorism authorities. - The US Department of State offered a reward of up to $15 million for information disrupting the financial mechanisms of the IRGC. ## Editorial remark - **Context:** The action falls under the administration's National Security Presidential Memorandum 2 framework, aiming to restrict Iranian access to offshore financial conduits and crypto networks. - **Impact:** All US assets belonging to designated entities and Kayvanpour are blocked, while foreign intermediaries risk secondary sanctions for handling transactions involving them. - **Watch:** Global virtual asset service providers will update compliance screeners to prevent secondary exposure as the State Department offers up to $15 million for IRGC financial leads. The US Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned two digital asset exchanges on Aug. 7, 2026, accusing them of facilitating illicit financial flows for the Iranian regime and the Islamic Revolutionary Guard Corps (IRGC) [1]. Developed alongside IRS-Criminal Investigation (IRS-CI), the action targets Georgia-based Shelbit Exchange, Iran-based Aban Tether, and network operator Siavash Kayvanpour alongside several associated corporate entities [1]. According to the Treasury, Kayvanpour orchestrated a multinational corporate structure across Georgia, Poland, and the United Arab Emirates to support digital currency activity tied to terrorism financing [1]. Digital currency addresses associated with the IRGC routed more than $1 million to Shelbit Exchange, while Shelbit transferred over $2 million back to IRGC addresses [1]. Wallets tied to Kayvanpour also sent more than $2 million in digital assets to Nobitex, an exchange previously sanctioned by US authorities [1]. Treasury officials noted that Shelbit additionally laundered tens of millions of dollars originating from an Iranian influencer-run online gambling operation that maintained access to domestic banking rails despite criminal convictions in 2023 [1]. ## Global Entities and Enforcement Reach Beyond Shelbit, OFAC designated Aban Tether under Executive Order 13902 for operating within the Iranian financial sector, citing millions of dollars processed alongside blacklisted Iranian venues such as Nobitex, Wallex, Bitpin, and Ramzinex [1]. Kayvanpour's network included UAE-registered Shelbit General Trading LLC—which faced enforcement actions by Dubai's Virtual Assets Regulatory Authority (VARA) in January 2025 and July 2026—as well as Poland-registered Shelbit Technologies Ltd and UAE entities Crypto Home DMCC and NFT Home DMCC [1]. The designations block all property and interests in property held by the sanctioned parties in the United States or within the custody of US persons, extending automatically to entities 50% or more owned by blocked targets [1]. Simultaneously, the US Department of State's Rewards for Justice program announced a bounty of up to $15 million for intelligence leading to the disruption of IRGC financial mechanisms [1]. At the time of writing, $BTC was trading at $82,432, while stablecoin $USDT traded at $0.9991 amid broader regulatory scrutiny into regional illicit flows, following earlier measures such as [Tether freezing Iran-linked assets](https://basisdesk.news/news/tether-freezes-iran-linked-usdt-sanctions-treasury). ## FAQ **Which crypto platforms were designated by OFAC?** OFAC designated Shelbit Exchange (operated via Georgia-based SHPS Shelbit and UAE-based Shelbit General Trading LLC) and Iran-based exchange Aban Tether. **What assets are blocked under these sanctions?** All property and interests in property of designated individuals and entities within the US or controlled by US persons are blocked, including entities owned 50% or more by them. ## Sources 1. [Treasury sanctions crypto exchanges funding Iran’s IRGC and enabling illicit finance | Internal Revenue Service](https://www.irs.gov/compliance/criminal-investigation/treasury-sanctions-crypto-exchanges-funding-irans-irgc-and-enabling-illicit-finance) — irs.gov, 2026-10-09 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai