US authorities have imposed sanctions against two crypto exchanges linked to Iran.

This week, the US Treasury Department imposed sanctions on two crypto exchanges linked to Iran as part of the Trump administration's "Economic Rage" campaign. According to the Office of Foreign Assets Control, Shelbit and Aban Tether were used to move large volumes of digital assets, evade restrictions, and support the Islamic Revolutionary Guard Corps and other groups designated by the US as terrorist organizations.

The agency also imposed sanctions on Shelbit operator Siavash Kaivanpour and several other companies he owns and controls in Georgia, Poland, and the UAE.

The Iranian regime's reliance on digital assets and shadow banking networks is further proof that economic rage works, whether it's dollars, rials, or cryptocurrency. Treasury Secretary Scott Bessent said the Department of the Treasury will target and disrupt the illicit financial networks that keep the regime afloat.

Wallets belonging to the Islamic Revolutionary Guard Corps are known to have sent over $1 million worth of cryptocurrency to the Shelbit exchange and received over $2 million from it. Other wallets linked to Kaivanpour also allegedly transferred over $2 million to Nobitex, Iran's largest crypto exchange, which the US first imposed sanctions on in June, as reported. Reported redaction Happy Coin News.

Shelbit also operated a network of more than 2000 gambling sites promoted by a pair of Iranian influencers who are alleged to have laundered tens of millions of dollars.

Aban Tether , according to the agency, processed millions of dollars in transactions involving Nobitex and other previously sanctioned platforms Wallex, Bitpin, and Ramzinex.