Money & Access
U.S. Treasury sanctions Iranian crypto exchange for IRGC bitcoin transfers
Image credit: Bitcoin Magazine
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The U.S. Treasury has sanctioned BitBank, an Iranian cryptocurrency exchange, over its role in facilitating bitcoin transfers to Iran's Islamic Revolutionary Guard Corps, according to Bitcoin Magazine. The action represents Washington's effort to disrupt Tehran's use of digital assets for financial activity involving the military organization.
The sanctions target BitBank's operations as the Treasury continues to focus on cryptocurrency as a channel through which Iran circumvents traditional financial restrictions tied to the IRGC, designated a terrorist organization by the United States.
