The US Treasury Department on Thursday sanctioned Iranian digital asset exchange BitBank, its software developer, and three associates of sanctioned financier Babak Zanjani, accusing the network of helping transfer hundreds of millions of dollars in Bitcoin to Iran's Islamic Revolutionary Guard Corps (IRGC).
“Today’s designations of Iranian digital asset infrastructure make perfectly clear that efforts to finance the Iranian regime using cryptocurrencies are not beyond OFAC’s reach,” Treasury Secretary Scott Bessent said. “If you support the Iranian regime, the Department of the Treasury will sanction you.”
Treasury separately said the already-sanctioned Hormuz Safe Marine Services Authority has used BitBank since June to transfer payments it received to the Iranian government. OFAC sanctioned Hormuz Safe in July, accusing the company of accepting Bitcoin and other digital assets through a maritime payment system that Treasury said was used to bypass US sanctions and generate revenue for the IRGC.
Zanjani was sentenced to death in Iran in 2016 over the embezzlement of funds from the National Iranian Oil Company before his sentence was commuted in 2024. Treasury said he publicly re-emerged in 2025 as a backer of government-linked economic projects and built a network of digital asset companies used in part to launder money for the IRGC. OFAC designated Zanjani and two digital asset exchanges linked to him on January 30, marking what Treasury described as its first designation of a digital asset exchange for operating in Iran's financial sector. On July 24, OFAC sanctioned four individuals and nine entities it described as key components of Zanjani's broader sanctions-evasion network.
Thursday's designations were imposed under Executive Order 13902 for activity in Iran's digital asset sector and are part of Operation Economic Outcast, an economic campaign announced by Treasury Secretary Scott Bessent on August 24, targeting networks, intermediaries, and financial channels used by Iran to “smuggle oil, evade sanctions, and generate revenue.”
Hence then, the article about us sanctions iran digital asset network was published today ( ) and is available on SHAFAQ NEWS ( Iraq ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( US sanctions Iran digital asset network )
Also on site :