Crypto
US Treasury Sanctions Iranian Crypto Exchange BitBank Over Alleged Bitcoin Transfers to IRGC
The US Treasury Department has imposed sanctions on Iranian cryptocurrency exchange BitBank for allegedly facilitating Bitcoin transfers to Iran's Islamic Revolutionary Guard Corps (IRGC).
The sanctions, announced on September 17, target BitBank and its software developer, Pishtaz Simorgh Electronic Trade Company, as well as three associates of Iranian financier Babak Zanjani.
Treasury identified BitBank as a digital asset venture controlled by Zanjani and said the exchange formed part of a wider network used to facilitate sanctions evasion.