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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