The United States has imposed sanctions on an unlicensed multi-state cryptocurrency exchange based in Dubai, accusing the platform of processing millions of dollars in digital assets for Iran’s Islamic Revolutionary Guard Corps (IRGC) and affiliated groups.
The move, reported by Channel NewsAsia, marks a significant expansion of Washington’s financial pressure campaign against Tehran’s military apparatus, targeting the digital finance infrastructure that facilitates illicit funding.
In recent months, Washington sanctioned several cryptocurrency wallets linked to Iran’s central bank, resulting in the freezing of more than $130 million in digital assets.
The sanctions allege that the exchange served as a critical conduit for the IRGC, enabling the transfer of funds despite existing restrictions.
By targeting the intermediary rather than just the end recipients, US authorities are signaling a broader strategy to choke off the financial lifelines of Iran’s elite military force through the decentralized finance sector.
This development follows a series of aggressive measures by the US Treasury against Iran’s financial networks.
In recent months, Washington sanctioned several cryptocurrency wallets linked to Iran’s central bank, resulting in the freezing of more than $130 million in digital assets.