Browsing: Sanctions

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.