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U.S. Sanctions Iran-Linked BitBank Over Crypto Transfers to IRGC
Vera
By Vera
Markets Editor
The U.S. Treasury sanctioned Iranian digital-AssetDefinition An asset is something that has economic value and can be owned or controlled by a person, company, or organisation. Assets can take many forms. A house, a piece...Read More ExchangeDefinition An exchange is an organised marketplace where buyers and sellers can trade financial assets according to a common set of rules. Examples of assets traded on exc...Read More BitBank, its software developer and three associates of financier Babak Zanjani. Treasury said Zanjani used BitBank between June and July to facilitate transfers of hundreds of millions of dollars' worth of Bitcoin to Iran's Islamic Revolutionary Guard Corps. It also said Hormuz Safe Marine Services Authority has used BitBank since June to transfer payments received to the Iranian government. The action extends U.S. sanctions enforcement into digital-asset infrastructure connected to Iran's financial networks.
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