"A Laundering Channel for Iran"...U.S. Treasury Department Sanctions Crypto Exchanges

[Financial News] The U.S. Department of the Treasury said it will sanction crypto exchanges and other entities on suspicion of helping the Iranian regime launder money.
On the 7th local time, the Treasury Department said it had designated two crypto exchanges and paper companies as sanctions targets for laundering billions of dollars for the Iranian regime.
This is the eighth sanctions action this year by the Office of Foreign Assets Control (OFAC), which targeted Iran's crypto exchanges, currency exchanges and other parts of its "shadow financial network."
The exchanges, known as "Shelbit" and "Avan Tether," supplied laundered crypto assets through online gambling sites and other channels to the Islamic Revolutionary Guard Corps (IRGC). The U.S. side said this was a way to provide funds to the Iranian regime, which cannot receive oil export payments through normal payment networks.
In a press release, Treasury Secretary Scott Bessent said, "The fact that the Iranian regime relies on digital assets and shadow financial networks is proof that the 'economic anger' operation is working." He added, "Whether in dollars, rials or crypto assets, the Treasury Department will track down and dismantle the illicit financial networks that sustain the Iranian regime."
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