{
  "id": 8130157,
  "title": "US sanctions Iranian financier's crypto exchange, says it processes Hormuz payments",
  "url": "https://urgent.news/2026/09/18/us-sanctions-iranian-financiers-crypto-exchange-says-it-processes",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-18T00:20:44.000Z",
  "source": {
    "name": "Jerusalem Post",
    "slug": "jerusalem-post",
    "url": "https://www.jpost.com/international/article-909009"
  },
  "original_language": "en",
  "account": "The United States imposed sanctions on an Iranian cryptocurrency exchange, BitBank, operated by sanctioned Iranian financier Babak Zanjani, stating it facilitated payments for ships to pass safely through the Strait of Hormuz. Treasury described BitBank as a crucial element in Iran's digital assets-based infrastructure to circumvent sanctions, used to transfer funds to the Islamic Revolutionary Guard Corps' Hormuz Safe Marine Services Authority. Zanjani, sentenced to death in 2016 for embezzlement but whose sentence was commuted in 2024, re-emerged as a supporter of Iranian government economic projects. This designation is part of Treasury's \"Operation Economic Outcast,\" targeting Iran economically and disrupting its global financial, commercial, and logistical networks. The sanctions also encompassed Pishtaz Simorgh Electronic Trade Company, the software developer behind BitBank, and three associates of Zanjani. Previously, Zanjani was sanctioned for laundering money for the Islamic Revolutionary Guard Corps, as well as for his roles in Zedcex Exchange Limited and Zedxion Exchange Limited. In July, the US imposed sanctions on nine other firms associated with Zanjani, including his Iran-based Dot One conglomerate and entities in Turkey and the UAE, along with their top executives.",
  "summary": "Treasury said BitBank had routed hundreds of millions of dollars to the IRGC and described the exchange as a key component in Iran’s digital assets-based sanctions-evasion infrastructure.",
  "key_points": [
    "US sanctions BitBank, Iranian crypto exchange run by Babak Zanjani",
    "BitBank facilitated Hormuz payments for IRGC's maritime services",
    "Operation Economic Outcast targets Iran's financial networks"
  ],
  "editors_take": "The US sanctions on BitBank and its affiliates tighten the noose on Iran's financial networks, further isolating the country and disrupting its attempts to circumvent existing sanctions through digital assets.",
  "illustration": "https://urgent.news/ill/8130157.png",
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Al-Monitor",
        "title": "US sanctions Iranian crypto exchange BitBank over Hormuz payments",
        "url": "https://urgent.news/2026/09/17/us-sanctions-iranian-crypto-exchange-bitbank-over-hormuz-payments",
        "published": "2026-09-17T18:25:39.000Z"
      },
      {
        "outlet": "Arutz Sheva - Israel National News",
        "title": "Treasury cracks down on Iranian crypto network",
        "url": "https://urgent.news/2026/09/17/treasury-cracks-down-on-iranian-crypto-network",
        "published": "2026-09-17T18:25:49.000Z"
      },
      {
        "outlet": "The Block",
        "title": "US sanctions Iranian crypto exchange BitBank over alleged bitcoin transfers to IRGC",
        "url": "https://urgent.news/2026/09/17/us-sanctions-iranian-crypto-exchange-bitbank-over-alleged-bitcoin",
        "published": "2026-09-17T20:05:28.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}