US sanctions Shelbit over cryptocurrency transactions linked to IRGC

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The US Treasury Department has added the company Shelbit to its sanctions list, citing its involvement in processing cryptocurrency assets allegedly linked to the Islamic Revolutionary Guard Corps (IRGC). This report was published by the Ukrainian news outlet Mezha. According to the source, the US action focuses on Shelbit's role in facilitating digital asset transactions connected to the IRGC. Available information does not currently specify the exact date the sanctions were imposed, the scope of the restrictions, or the total value of the transactions in question. Sanctioning firms and networks operating within the cryptocurrency sector is part of Washington's broader strategy to restrict financial channels utilised by the Islamic Republic and its affiliated entities. The report does not provide information regarding any response from Shelbit or officials from the Islamic Republic.