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U.S. Treasury Sanctions Iran’s BitBank for Bitcoin Toll Payments to Hormuz Guard Crypto

U.S. Treasury Sanctions Iran’s BitBank for Bitcoin Toll Payments to Hormuz Guard

The U.S. Treasury’s Office of Foreign Assets Control has placed sanctions on Tehran‑based crypto exchange BitBank, accusing it of moving hundreds of millions of dollars in Bitcoin to the Islamic Revolutionary Guard Corps through a scheme that charged ships for passage through the Strait of Hormuz. The move highlights growing U.S. focus on cryptocurrency as a tool for sanctions evasion.

Crypto Desk