Regulation· ★★★★· bearish·

US Sanctions Iranian Exchange BitBank Over Bitcoin Transfers to IRGC

  • —OFAC added BitBank to its list on September 17 under Executive Order 13902, with secondary sanctions risk
  • —According to the Treasury, hundreds of millions of dollars in BTC passed through the exchange for the IRGC
  • —Sanctions also hit Pishtaz Simorgh and three individuals in Zanjani's network
  • —The US previously sanctioned Nobitex, Wallex, Bitpin and Ramzinex and froze about $1 billion
Why it matters: Pressure on Iran's crypto infrastructure is mounting, which could affect the exchange's counterparties and digital asset settlements in the region.
#BTC
Source: Crypto News Australia
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