The US has banned Dubai’s crypto exchange Shelbet, affecting its Iranian founder, due to alleged facilitation of transactions for Iranian institutions.
Dubai: (RightNow) The United States has imposed a ban on the Dubai-based cryptocurrency exchange Shelbet. Its Iranian founder, Siavash Keyvanpour, and other related entities are also affected.
US officials allege that Shelbet facilitated cryptocurrency transactions worth millions of dollars for the Iranian Revolutionary Guard and other Iranian institutions. The aim was reportedly to help evade US sanctions.
According to Reuters investigations, Shelbet was part of a financial network through which billions of dollars in crypto transactions occurred. The US action aims to limit illegal financial networks related to Iran.
The US crypto regulator has identified violations of anti-money laundering and terrorism financing rules by Shelbet.
It is noteworthy that Shelbet has denied these allegations, stating that their activities ceased in January 2026.
