Browsing: Iranian

U.S. Treasury Sanctions Iranian Crypto Exchange Bitbank Over Role in Processing Hormuz Transit Fees

Add preferred source The U.S. Treasury Department on the 17th imposed sanctions on Bitbank, a cryptocurrency exchange controlled by sanctioned Iranian financier Babak Zanjani. The exchange allegedly processed safe-passage fees for vessels transiting the Strait of Hormuz and funneled hundreds of millions of dollars to the Islamic Revolutionary Guard Corps. A software development firm and…

U.S. Targets Iranian Crypto Exchange in Sanctions Crackdown

The United States on Thursday announced sanctions against an Iranian cryptocurrency exchange, BitBank, alleging its involvement in facilitating payments for safe passage of ships through the Strait of Hormuz. The exchange is tied to Babak Zanjani, a prominent figure in Iran’s sanction-evasion networks.

US Sanctions on Iranian Crypto Exchange Stir Tensions in Strait of Hormuz

The United States government has implemented new sanctions aimed at an Iranian cryptocurrency exchange, further increasing tensions in the Gulf region. The exchange, under the control of the already sanctioned financier Babak Zanjani, is alleged to have been facilitating payments for safe passage through the critical Strait of Hormuz.