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U.S. Treasury Sanctions Iranian Crypto Exchange BitBank Over IRGC Bitcoin Transfers Crypto

U.S. Treasury Sanctions Iranian Crypto Exchange BitBank Over IRGC Bitcoin Transfers

The U.S. Treasury’s Office of Foreign Assets Control added Iran‑based BitBank and its software developer to the sanctions list, accusing them of moving Bitcoin to the Islamic Revolutionary Guard Corps and facilitating payments for Strait of Hormuz shipping tolls. The move prompted a modest dip in Bitcoin’s price and heightened compliance scrutiny across the crypto sector.

Crypto Desk
U.S. Treasury Sanctions Iran’s BitBank for Bitcoin Toll Payments to Hormuz Guard Crypto

U.S. Treasury Sanctions Iran’s BitBank for Bitcoin Toll Payments to Hormuz Guard

The U.S. Treasury’s Office of Foreign Assets Control has placed sanctions on Tehran‑based crypto exchange BitBank, accusing it of moving hundreds of millions of dollars in Bitcoin to the Islamic Revolutionary Guard Corps through a scheme that charged ships for passage through the Strait of Hormuz. The move highlights growing U.S. focus on cryptocurrency as a tool for sanctions evasion.

Crypto Desk