OFAC targets Iranian crypto, shadow-banking networks and updates narcotics sanctions
The US Treasury sanctioned Iranian-linked cryptocurrency exchanges, financiers and international front companies accused of supporting the IRGC and sanctions evasion, while removing several narcotics-related entries from the SDN List.
WASHINGTON, August 7, 2026 — The US Treasury Department’s Office of Foreign Assets Control added five individuals and 13 entities to its Specially Designated Nationals and Blocked Persons List, targeting cryptocurrency and shadow-banking networks it says help Iran move and launder funds. OFAC also removed several Colombia- and Mexico-linked narcotics sanctions entries and amended Iran-related Frequently Asked Question 1257.
The designations include Iranian digital asset exchange Aban Tether and a network linked to Siavash Kayvanpour and the Shelbit Exchange. Treasury said digital currency addresses associated with the Islamic Revolutionary Guard Corps had transferred more than $1 million to Shelbit-linked addresses, while more than $2 million moved from Shelbit addresses to IRGC addresses. Kayvanpour and several associated companies were designated under US counterterrorism authorities.
OFAC separately targeted exchange houses and front companies linked to Iran’s Shahr Bank and Farab Soroush Afagh Qeshm. The action includes Dubai-based Titan Exchange and Alps International L.L.C-FZ, as well as companies in Hong Kong, Singapore and the United Arab Emirates. Treasury said Titan Exchange held tens of millions of dollars for Shahr Bank in early 2026, while Alps International facilitated hundreds of millions of dollars in transactions during the year.
Individuals sanctioned under the Iran-related action include Saeed Ghasempour, Amir Hendi, Peivand Mohammad and Shima Sharifi. Treasury said the network supported payment processing, currency conversions and transactions involving shell companies used to move Iranian funds outside the formal financial system.
OFAC also amended FAQ 1257 to explicitly include Aban Tether among Iranian digital asset exchanges whose designation may create sanctions exposure for non-US persons and foreign financial institutions conducting significant transactions with them.
Separately, OFAC deleted narcotics-related SDN records covering individuals and companies associated with Colombia and Mexico, including Mario German Satizabal Rengifo, Heriberto Zazueta Godoy and several related commercial entities.
The designations generally block property and interests in property within US jurisdiction and prohibit transactions involving designated persons unless authorized by OFAC. Treasury also warned that certain dealings may expose foreign financial institutions to secondary sanctions.
Regulatory Actions
Structured data extracted from official sources and validated by sanctions experts