US Slaps Sanctions on Iran's BitBank Crypto Exchange Over Bitcoin Transfers

The US Treasury has imposed sanctions on BitBank, an Iranian crypto exchange, and its developer over allegations of facilitating bitcoin transfers to the IRGC.

According to the Treasury, between June and July 2026, BitBank's owner, Babak Zanjani, used the platform to transfer hundreds of millions of dollars' worth of bitcoin to the Islamic Revolutionary Guard Corps (IRGC).

The sanctions were part of Operation Economic Outcast, a US-led effort to target Iran's financial infrastructure.

Zanjani was previously sanctioned for his alleged role in laundering funds and supporting state-linked organizations through publicly operating commercial projects and financial platforms.