Treasury has designated an Iranian exchange network down to its wallet addresses, and says the Dubai arm kept trading after its own regulator acted twice
The entry runs to five blockchains.
The Office of Foreign Assets Control added Siavash Kayvanpour and six companies to the Specially Designated Nationals list on Friday, and the entries carry the wallet addresses. Kayvanpour's own entry names two bitcoin addresses, one ether address and one tron address. The entry for SHPS Shelbit, the Georgian company behind the Shelbit Exchange, names two bitcoin addresses, two ether addresses, one tron address and one solana address. A designation blocks property. A designation that publishes the addresses tells every compliance desk in the world exactly which strings to screen for.
What Treasury says the network did
Treasury's account, set out in its announcement rather than in the list, is that digital currency addresses belonging to the Islamic Revolutionary Guard Corps sent the equivalent of more than $1m to Shelbit Exchange addresses, that more than $2m went back the other way, and that addresses belonging to or controlled by Kayvanpour sent more than $2m to Nobitex, an Iranian exchange the United States designated earlier. Kayvanpour is designated under Executive Order 13224 for having materially assisted the IRGC and Nobitex. A designation is not a criminal charge, and no court has ruled on any of it.
The corporate shape
Six companies came with him.
SHPS Shelbit is registered in Tbilisi, and the establishment date on its own list entry reads 29 April 2025, about fifteen months before the designation. Shelbit General Trading LLC is in Dubai and trades as Shelbit Exchange. Shelbit Technologies is in Warsaw, and its registered name on the list ends in the Polish suffix w likwidacji, which marks a company in liquidation. Crypto Home DMCC and NFT Home DMCC are both Dubai companies, established in March and May 2022.
Treasury says the Emirates regulator, the Virtual Assets Regulatory Authority, took enforcement action against the Dubai company in January 2025 and again in July 2026, and that the company remains in business. It says the same authority acted against Crypto Home in January 2025.
Aban Tether, in Tehran, was designated on a different basis. Executive Order 13902, for operating in the financial sector of the Iranian economy, rather than the terrorism authority used for the Shelbit companies. Treasury says it has processed millions of dollars of transactions involving Nobitex, Wallex, Bitpin and Ramzinex, all designated before this.
The rest of the same file
Friday's list update did two other things.
It added four more Iranian individuals and a set of trading companies in Dubai, Hong Kong and Singapore under the Iran authority, among them Titan Exchange in Dubai and one individual listed as linked to it. And it removed a block of Colombian and Mexican counter narcotics designations, five individuals and three companies registered in Sinaloa and Jalisco. The State Department is offering up to $15m through its Rewards for Justice programme for information that disrupts the financial mechanisms of the IRGC, and Treasury says the action was developed with the criminal investigation arm of the Internal Revenue Service.
This item was written on Saturday and held a day because no image met the standard. It runs now because the designations are in force, the wallet addresses are screenable, and nothing in the list update has changed since.
