🇺🇸🇮🇷 Washington has sanctioned Iranian crypto exchange BitBank, saying it processed payments tied to ships transiting the Strait of Hormuz and transferred hundreds of millions of dollars to the IRGC.
Treasury says BitBank sits at the center of Iran’s digital sanctions-evasion infrastructure and was used to move payments connected to the Hormuz Safe Marine Services Authority.
The exchange is controlled by Babak Zanjani, a longtime sanctions-evasion figure whose death sentence in Iran was later reduced.
The interesting part is the plumbing.
The battle over Hormuz is not just ships, missiles and insurance anymore. It now runs through crypto rails too.
Source: U.S. Treasury, Investing .com, Reuters / Writer: Oliver
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