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The US Treasury sanctions Dubai-based unlicensed crypto exchange Shelbit, alleging it processed millions in crypto for IRGC and other Iran-linked groups (Reuters)
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The US Treasury sanctioned Dubai-based crypto exchange Shelbit for allegedly processing millions in transactions linked to Iran’s IRGC and other Iran-affiliated groups.
Engineers working with crypto infrastructure or compliance tools now face tighter scrutiny on transaction flows. Any exchange or wallet service that fails to enforce US sanctions risk being cut off from dollar-based systems, increasing operational friction. The event signals that unlicensed exchanges are now explicit enforcement targets, not just regulatory warnings.
Written by elseif from the cluster below · every claim links back to a sourceThe three things worth knowing
Shelbit operated without a license and is accused of processing crypto for sanctioned Iranian entities.
US Treasury sanctions block Shelbit from accessing US financial networks, effectively freezing its assets.
The action raises the compliance bar for any crypto service handling cross-border transactions.
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