Bitcoin
US Treasury Sanctions Iranian Crypto Exchange BitBank Over Military Transfers
The United States has sanctioned Iranian digital asset exchange BitBank and linked entities for allegedly facilitating hundreds of millions in Bitcoin transfers to the IRGC.
The United States Department of the Treasury's Office of Foreign Assets Control sanctioned Iranian cryptocurrency exchange BitBank on September 17, 2026. The agency alleged that the platform facilitated hundreds of millions of dollars in Bitcoin transfers to the Islamic Revolutionary Guard Corps between June and July 2026.
The enforcement action, conducted under Executive Order 13902 as part of Operation Economic Outcast, designated BitBank along with its developer, Pishtaz Simorgh Electronic Trade Company, and three individuals tied to Iranian financier Babak Zanjani. Treasury officials stated that Zanjani has actively promoted the exchange since at least 2024.
According to the Treasury, the exchange was also utilized by previously designated entities, including Hormuz Safe Marine Services Authority, to route payments into Iran. The designations place all associated entities and individuals on the Specially Designated Nationals list, broadly prohibiting U.S. persons from engaging in transactions with them.
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