Regulation2026-08-08 10:15:19US Treasury Sanctions Dubai Crypto Exchange Shelbit Over $3M IRGC FlowsThe U.S. Treasury's Office of Foreign Assets Control (OFAC) has sanctioned Shelbit, a Dubai-based cryptocurrency exchange, along with its founder, over allegations that the platform moved money to Iran's Islamic Revolutionary Guard Corps (IRGC). OFAC data cited in the action shows that more than $3 million flowed between wallets connected to the exchange and wallets associated with the IRGC. Shelbit is registered in Georgia and operates from Dubai. Its founder allegedly ran the business through a network of shell companies established across several countries. The sanctions follow an investigation by Reuters that relied on blockchain data. Shelbit has been added to the Specially Designated Nationals and Blocked Persons List. Any assets the exchange holds in the United States are frozen, and third parties that engage in transactions with Shelbit could face secondary sanctions risk. Techub News reported the development, and the case was covered by Spaziocrypto.1920
cryptocurrenc2026-07-08 23:12:16U.S. Treasury Plans to Add Cryptocurrency Addresses to SDN List, Posing New Compliance Challenges for Blockchain IndustryThe U.S. Treasury’s OFAC issued a guidance to include cryptocurrency addresses on the Specially Designated Nationals (SDN) list, targeting BTC, ETH, XMR, and other assets. Exchanges and businesses are urged to monitor suspect addresses, sparking debates on privacy and compliance.1700
