US Sanctions Iranian Crypto Exchange BitBank Over Bitcoin Transactions

The US Treasury has imposed sanctions on BitBank, an Iranian cryptocurrency exchange, for facilitating bitcoin transactions to the Islamic Revolutionary Guard Corps (IRGC). This move is part of the ongoing efforts by the US government to curb Iran's use of cryptocurrencies to evade economic sanctions.

The sanctions also target Iranian financier Babak Zanjani and his associates, aiming to disrupt the financial networks supporting the Iranian regime.

As a result of these sanctions, the US warns that it will continue targeting entities involved in Iran's digital asset ecosystem to prevent sanction evasion.