US Treasury sanctions Iraqi bank and crypto platform BitBank in Iran crackdown
- —On October 15, Treasury sanctioned Iraq's International Development Bank and Iranian offshore banks in free trade zones
- —On September 17, crypto platform BitBank was sanctioned for Bitcoin transfers to the IRGC
- —Over 60 entities, individuals and vessels have been designated under Operation Economic Outcast
- —The legal basis is Executive Order 13902 targeting Iran's financial and petroleum sectors
Why it matters: Sanctions now target crypto platforms alongside banks and vessels, raising compliance risks for digital assets in cross-border transactions.
Source: Crypto Briefing
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