U.S. Sanctions Dubai Crypto Exchange Over Alleged Iran IRGC Funding

The U.S. has sanctioned Shelbit, an unlicensed Dubai-based cryptocurrency exchange, for allegedly processing millions in crypto for Iran's Islamic Revolutionary Guard Corps (IRGC) and other regime-linked groups. This action follows a Reuters investigation identifying Shelbit in a $4 billion Iranian sanctions evasion scheme, underscoring efforts to disrupt illicit financial networks supporting sanctioned entities.