The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed fresh restrictions on two digital asset platforms linked to Iranian activity. The measures, announced on August 7, 2026, form part of the broader “Economic Fury” initiative designed to intensify economic pressure on the Iranian regime and limit its ability to move funds outside traditional banking channels.
OFAC targeted Shelbit Exchange, operated through a Georgia-based company controlled by Iranian-born Siavash Kayvanpour, and the Iran-based Aban Tether platform.
Authorities allege these venues enabled the movement of substantial volumes of digital assets, supported sanctions evasion, and facilitated transactions connected to the Islamic Revolutionary Guard Corps (IRGC), a group designated as a terrorist organization by the United States.
Kayvanpour and several of his associated companies across Georgia, Poland, and the United Arab Emirates were also designated.
According to the Treasury, digital currency addresses tied to the IRGC transferred more than the equivalent of $1 million to Shelbit Exchange addresses, while more than $2 million moved in the opposite direction from Shelbit to IRGC-linked wallets.
Additional addresses controlled by Kayvanpour sent over $2 million in digital assets to Nobitex, Iran’s largest cryptocurrency exchange, which itself faced U.S. sanctions earlier in the year.
Shelbit was further linked to the laundering of tens of millions of dollars from a large Persian-language online gambling network operated by Iranian influencers living abroad.
Despite regulatory actions by UAE authorities against related entities, the operations continued.
Aban Tether, designated under an executive order targeting Iran’s financial sector, processed millions of dollars in transactions involving previously sanctioned Iranian platforms, including Nobitex, Wallex, Bitpin, and Ramzinex.
These earlier designations in June 2026 marked a significant escalation, with Nobitex alone accounting for more than half of Iranian digital asset inflows in 2025.
That platform was accused of assisting the Central Bank of Iran in accessing stablecoins, enabling regime-linked transactions, supporting IRGC-affiliated activity, and helping move assets amid internet disruptions following military developments.
Treasury Secretary Scott Bessent framed the latest steps as evidence that the Economic Fury campaign is succeeding.
He stated that the Iranian regime’s growing dependence on digital assets and informal banking networks demonstrates the effectiveness of the pressure, adding that the department would continue pursuing illicit financial channels whether they involve traditional currencies or cryptocurrency.
The overall effort has already resulted in the freezing or seizure of substantial crypto holdings tied to Iranian entities and has targeted shadow banking networks, oil-related evasion, and other revenue streams.
The designations block property and interests of the listed parties that fall under US jurisdiction and generally prohibit U.S. persons from engaging in related transactions.
They also carry secondary sanctions risks for non-US parties that provide material support.
Officials coordinated the action with the Internal Revenue Service’s Criminal Investigation division, and a separate rewards program continues to offer incentives for information that disrupts IRGC financial mechanisms.
These measures reflect an evolving strategy that treats cryptocurrency platforms as critical infrastructure for regime financing and sanctions circumvention.
By systematically identifying and designating exchanges and their operators, U.S. authorities aim to raise the cost of operating in the digital asset space for Iranian networks while reinforcing maximum economic pressure. As the campaign progresses, further actions against remaining facilitators are expected.
