The US Treasury sanctioned Iranian crypto exchange BitBank and related entities on Sept. 17, accusing them of transferring hundreds of millions of dollars in Bitcoin to Iran's Islamic Revolutionary Guard Corps (IRGC) between June and July. BitBank, its developer Pishtaz Simorgh, and three associates linked to financier Babak Zanjani were designated under Executive Order 13902 as part of Operation Economic Outcast, targeting Iranian financial networks. The Treasury also linked BitBank to Hormuz Safe, an Iran-linked maritime payment operation. US persons must block property linked to BitBank, and foreign entities face secondary sanctions risks. This move continues the US campaign against Iran's use of cryptocurrencies to evade sanctions.
BitBank sanctions news provides context for cryptocurrency markets. For readers following crypto, here is Pluang's market snapshot as of Sep 18, 2026 10:11 WIB: 45 of 50 major cryptocurrencies rose today. Notable movers include COTI at Rp424 with +37.23% change, UNI at Rp141.139 with +19.69%, and BAL at Rp16.297 with +11.14%.
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