[DigitalToday reporter Chi-gyu Hwang] The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) imposed sanctions on two Iran-linked cryptocurrency exchanges and one individual.
The U.S. government judged they helped launder $5 million in digital assets linked to Iran. Cointelegraph reported on Aug. 7 local time that the sanctioned targets are Selbit, Avan Tether and Iranian national Siavash Kaivanpour (시아바시 카이반푸르).
OFAC said Selbit and Avan Tether supported illicit cryptocurrency activity and sanctions evasion, and that the proceeds were used to support Iran's Islamic Revolutionary Guard Corps (IRGC). It also sanctioned cryptocurrency wallets and companies linked to Kaivanpour. One of the companies was identified as operating Selbit.
The U.S. Treasury Department explained that the Iranian regime has relied on these exchanges to launder billions of dollars. Treasury Secretary Scott Bessent said he would track down and dismantle illicit financial networks propping up the regime, regardless of whether they use dollars, rials or cryptocurrencies.
Chi-gyu Hwang
delight@d-today.co.kr