Dubai crypto exchange Shelbit hit with US sanctions over Iran's financial network
The United States has sanctioned Dubai-based cryptocurrency exchange Shelbit over its alleged role in a $4 billion Iranian sanctions-evasion scheme. The US Treasury says Shelbit processed millions for Iran's IRGC, central bank and other state-linked groups. The crackdown also targets Shelbit founder Siavash Kayvanpour and Iran-based Aban Tether. Shelbit denies knowingly supporting sanctions evasion, money laundering or terrorist financing.
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