Sanctions Evasion

A Dubai-based crypto exchange has become the focus of allegations involving a $4 billion Iranian sanctions-evasion network tied to illegal gambling platforms and sanctioned entities. Investigators say funds connected to Shelbit moved through major global crypto venues, while Binance says Shelbit never held an account on its platform and that it froze relevant accounts after review.

The Digital Asset Market Clarity Act is drawing fresh scrutiny from critics who warn about national security risks. Supporters argue the bill would bring digital asset firms deeper into compliance frameworks and give investigators stronger tools to disrupt illicit finance.