US Adds Two Iran-Linked Crypto Exchanges to Sanctions List

The US administration has added two digital asset exchanges and a shadow banking network to its sanctions list for providing financial support to Iran's Islamic Revolutionary Guard Corps (IRGC) and facilitating illicit financial transactions. This move is seen as the latest step against Iran's efforts to circumvent international sanctions through cryptocurrencies. The sanctions decision is based on findings that these entities played a key role in transferring funds to groups affiliated with the IRGC. According to the US Treasury Department, these exchanges and the shadow banking network allowed Iran to use its financial system to evade sanctions. Experts suggest that these sanctions may have a limited but symbolic impact on cryptocurrency markets, with the primary goal being to isolate Iran's financial networks. The entities added to the sanctions list are now prohibited from conducting any transactions with the US, and US citizens are barred from engaging in commercial relationships with them. This development comes amid tightening global cryptocurrency regulations and once again highlights the role of digital assets in international sanctions mechanisms. Market analysts indicate that similar sanctions could be applied to other countries in the future, potentially accelerating compliance processes for crypto exchanges. This is not investment advice.