Techub News reports that, according to CryptoBriefing, the U.S. Financial Crimes Enforcement Network (FinCEN) issued an alert on May 11, warning financial institutions to be vigilant against Iran's Islamic Revolutionary Guard Corps (IRGC) using digital assets, shell companies, and obfuscation techniques to evade U.S. sanctions, with estimated related activities worth billions of dollars annually. FinCEN pointed out that the IRGC sets up shell companies as legitimate business fronts, utilizing mixing services and over-the-counter trading desks to hide fund flows. Since being designated as a terrorist organization by the U.S. in 2019, the IRGC has long used state-subsidized electricity for Bitcoin mining and has been conducting international transactions through cryptocurrencies to bypass traditional banking systems.