US sanctions Dubai crypto exchange for aiding Iran’s IRGC

The United States has sanctioned a Dubai-based cryptocurrency exchange over allegations that it aided Iran’s Islamic Revolutionary Guard Corps, according to a report by Daily Sun. The action places the exchange at the center of Washington’s continuing effort to restrict financial channels allegedly used by Iranian state-linked and security entities.

US sanctions generally prohibit US persons and businesses from dealing with designated parties and can expose foreign firms to secondary compliance risks. In the crypto sector, sanctions actions can also affect access to banking, payment providers, trading counterparties and other service infrastructure.

The Islamic Revolutionary Guard Corps is a powerful Iranian military and security institution. The United States has long imposed sanctions on the IRGC and related networks, citing concerns including regional activity, financing and sanctions evasion.

The case highlights the scrutiny facing digital-asset platforms operating across international jurisdictions. Crypto exchanges can be required to maintain controls aimed at preventing sanctioned individuals, entities and jurisdictions from using their services, while regulators increasingly focus on whether those controls are effective.