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US Treasury Sanctions Iran's BitBank for Bitcoin Transfers to IRGC

Guavy AI Editorial Team
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The U.S. Treasury has sanctioned Iranian crypto exchange BitBank as part of Operation Economic Outcast, targeting its use in transferring bitcoin to the Islamic Revolutionary Guard Corps (IRGC).

Since June, Hormuz Safe Marine Services Authority used BitBank to move bitcoin to the IRGC.

The sanctions also target designated Iranian financier Babak Zanjani and his associates, including software developer Pishtaz Simorgh Electronic Trade Company.

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