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Middle East

US sanctions Iranian financier’s crypto exchange, says it processes Hormuz payments

Source: Arab News
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US sanctions Iranian financier’s crypto exchange, says it processes Hormuz payments
Image: Arab News

WASHINGTON: The United States announced sanctions on an Iranian cryptocurrency exchange controlled by sanctioned Iranian financier Babak Zanjani on Thursday, accusing it of processing payments for ships to transit safely through the Strait of Hormuz. Treasury said BitBank had routed hundreds of millions of dollars to the Islamic Revolutionary Guard Corps and ‌described the exchange as ‌a key component in Iran’s digital ‌assets-based sanctions-evasion infrastructure. The exchange was used to tra

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