The U.S. Treasury's Office of Foreign Assets Control has sanctioned a set of crypto businesses and individuals it says helped Iran move money through digital asset rails, widening a pressure campaign that has increasingly focused on exchanges, wallets, and shadow banking networks.

The action centers on Shelbit Exchange and Iran-based Aban Tether. Treasury said Shelbit was operated through Republic of Georgia-based SHPS Shelbit and connected companies tied to Siavash Kayvanpour. According to Treasury, digital currency addresses belonging to the Islamic Revolutionary Guard Corps sent more than $1 million in digital assets to Shelbit addresses, while more than $2 million moved from Shelbit addresses back to IRGC-linked addresses.

Treasury also said Kayvanpour-linked addresses sent more than $2 million to Nobitex, an Iranian exchange that was previously sanctioned. Aban Tether was designated for operating in Iran's financial sector after allegedly processing millions of dollars in transactions involving previously designated Iranian digital asset exchanges, including Nobitex, Wallex, Bitpin, and Ramzinex.

The designations freeze any U.S.-held property of the named parties and generally bar U.S. persons from transacting with them. CoinDesk reported the action alongside a separate Treasury move against foreign exchange houses, shell companies, and individuals accused of helping Iran's shadow banking system move hundreds of millions of dollars.

For crypto compliance teams, the practical signal is that Treasury is treating exchange infrastructure, not just individual wallet addresses, as a sanctions target when it believes those platforms provide access to the global financial system.