US sanctions Iranian crypto exchange BitBank

6.8 Regulation

Sep 17, 2026

The U.S. Treasury sanctioned Iranian crypto exchange BitBank and affiliates for facilitating major bitcoin transfers to the IRGC, intensifying scrutiny of digital assets and complicating Iran nuclear talks.

The U.S. Treasury Department has imposed sanctions on Iranian cryptocurrency exchange BitBank, its software developer Pishtaz Simorgh Electronic Trade Company, and three individuals associated with financier Babak Zanjani. Authorities allege that BitBank facilitated hundreds of millions of dollars in bitcoin transfers to the Islamic Revolutionary Guard Corps (IRGC) and processed payments linked to Iran’s financial networks, including maritime services near the Strait of Hormuz. These measures are part of Operation Economic Outcast, which targets Iran’s digital asset-based sanctions evasion infrastructure. BitBank and related entities have been added to the Office of Foreign Assets Control’s Specially Designated Nationals list, restricting transactions by U.S. persons and exposing certain non-U.S. parties to potential sanctions. This move signals heightened U.S. scrutiny of digital asset regulations and could complicate ongoing nuclear negotiations with Iran, as optimism for a diplomatic breakthrough has waned.