US blacklists BitBank over Iran-linked crypto transfers
The United States has sanctioned Iranian cryptocurrency exchange BitBank, accusing it of helping move hundreds of millions of dollars in Bitcoin to the Islamic Revolutionary Guard Corps and processing payments linked to Tehran. The Treasury Department’s Office of Foreign Assets Control designated BitBank on September 17 under Executive Order 13902, which targets sectors of Iran’s economy. The…
The United States has sanctioned Iranian cryptocurrency exchange BitBank, alleging it facilitated hundreds of millions of dollars worth of Bitcoin transfers to the Islamic Revolutionary Guard Corps and other Tehran-linked entities. Treasury Secretary Scott Bessent stated the move was part of Operation Economic Outcast, an intensified effort to pressure Iran financially.
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