Treasury
Treasury blacklists Iranian BitBank crypto exchange
The Treasury Department’s Office of Foreign Assets Control blacklisted BitBank on Wednesday, naming it a digital-asset exchange controlled by previously sanctioned Iranian financier Babak Zanjani. Treasury also designated software developer Pishtaz Simorgh Electronic Trade Company and three Zanjani associates. The release says Zanjani used BitBank in June and July 2026 to move hundreds of millions of dollars’ worth of Bitcoin to Iran’s Islamic Revolutionary Guard Corps, and that a previously designated shipping entity also used BitBank to move payments. U.S. persons’ property of those named is blocked. The action sits under Operation Economic Outcast and Legal instrument A January 2020 order that lets Treasury freeze U.S.-touching assets of people and companies working in named parts of Iran’s economy, including the digital-asset sector under later Economic D-Day rules, and that can pressure foreign banks that do major business with them. Food, medicine, and medical devices are carved out.Executive Order 13902 — Imposing Sanctions With Respect to Additional Sectors of Iran
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