# US hits Dubai crypto exchange for $4bn Iran evasion

2026-08-07T22:43:32+00:00 | World & Diplomacy | Indian Opinion Desk

Corroboration: 1 independent outlet

The United States on Friday imposed sanctions on Dubai-based crypto exchange Shelbit and its founder Siavash Kayvanpour, alleging it processed millions of dollars for Iran's Islamic Revolutionary Guard Corps (IRGC) and the Iranian central bank. The Treasury also sanctioned Iran-based Aban Tether, accusing it of dealing with sanctioned entities including Nobitex, Iran's largest crypto exchange. A Reuters investigation identified Shelbit as the hub of a $4 billion sanctions-evasion network, moving funds from suspected Bitcoin mining and an illegal gambling ring run by Iranian influencers.

## Coverage

- timesofindia.indiatimes.com <https://timesofindia.indiatimes.com/world/us/us-sanctions-dubai-based-crypto-exchange-over-alleged-iran-sanctions-evasion-and-irgc-funding/articleshow/133042246.cms>
- economictimes.indiatimes.com <https://economictimes.indiatimes.com/news/international/world-news/us-sanctions-on-six-entities-one-individual-linked-to-irans-illicit-digital-asset-network-following-strait-of-hormuz-attacks/articleshow/133044838.cms>
- timesnownews.com <https://www.timesnownews.com/world/us/us-news/us-sanctions-dubai-based-crypto-exchange-linked-to-irans-irgc-alleges-4-billion-evasion-article-155383577>

Tags: cryptocurrency, Dubai, Iran, IRGC, money laundering, sanctions
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