US sanctions Dubai crypto exchange Shelbit for alleged Iran IRGC funding
The United States Treasury Department has sanctioned Dubai-based cryptocurrency exchange Shelbit, accusing it of processing millions of dollars for Iranian state entities. The exchange is alleged to have facilitated financial transactions on behalf of Iran's central bank and the Islamic Revolutionary Guard Corps (IRGC). Washington said the move is aimed at curbing sanctions evasion through cryptocurrency networks. Shelbit denied the allegations and claimed it had already halted operations in January 2026. Dubai's financial regulator had previously flagged the exchange for violations of anti-money laundering regulations.
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