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US sanctions Tehran's BitBank for moving bitcoin to Iran's Revolutionary Guards and handling Strait of Hormuz tolls.

Market News
18 Sep 2026
Coindesk
View Source
Bearish
US sanctions Tehran's BitBank for moving bitcoin to Iran's Revolutionary Guards and handling Strait of Hormuz tolls.

The US Treasury sanctioned BitBank, a Tehran-based cryptocurrency exchange, for transferring hundreds of millions of dollars in bitcoin to Iran's Islamic Revolutionary Guard Corps and processing payments from ships paying tolls for safe passage through the Strait of Hormuz. BitBank, established in 2024, also worked with the Hormuz Safe Marine Services Authority, which charges tankers $1-2 million for passage. These sanctions freeze BitBank's assets under US jurisdiction and threaten foreign entities dealing with it with exclusion from the US financial system. This move highlights US efforts to block Iran's regime financing via cryptocurrencies.

The news about Iran's Strait of Hormuz toll booth settling payments in bitcoin provides context for cryptocurrency market activity. For readers following major cryptocurrencies on Pluang, here is the market snapshot as of Sep 18, 2026 13:31 WIB: out of 50 priced major cryptocurrencies, 45 rose and 4 fell today. Notable movers include SXP (Solar) down 46.27% at Rp37 with a typical hold time of 94 days, COTI up 33.54% at Rp419 with Pluang order activity showing 53% Sell and 47% Buy, and UNI (Uniswap) up 25.23% at Rp149,763 with 37% Sell and 63% Buy activity and a typical hold time of 65 days.

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