Dubai exchange Shelbit implicated in $4B Iranian sanctions evasion route
An unlicensed Dubai crypto exchange, Shelbit, moved at least $4 billion since May 2024 for Iranian gambling operators and sanctioned state entities, a series of investigations corroborated by Reuters revealed. The revelation makes it the latest crypto platform to be uncovered as a channel for moving money past sanctions by Tehran. Shelbit sits alongside Nobitex,...
An unlicensed Dubai crypto exchange, Shelbit, moved at least $4 billion since May 2024 for Iranian gambling operators and sanctioned state entities, a series of investigations corroborated by Reuters revealed. The revelation makes it the latest crypto platform to be uncovered as a channel for moving money past sanctions by Tehran. Shelbit sits alongside Nobitex,...
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The involvement of a crypto exchange in sanctions evasion could lead to regulatory scrutiny, negatively impacting XRP's market perception.
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