Current outcome
The U.S. Treasury has sanctioned Iranian crypto exchange BitBank and further designated BitBank-related Pishtaz Simorgh Electronic Trade Company and three Dot One executives under Executive Order 13902 as part of Operation Economic Outcast.
Progress timeline
2 material updates- #01
US sanctions Iranian crypto exchange BitBank over alleged bitcoin transfers to IRGC
The U.S. Treasury sanctioned Iranian crypto exchange BitBank for allegedly processing bitcoin payments collected by the previously sanctioned Hormuz Safe platform on behalf of the IRGC.
Source evidence: The Block · Cointelegraph
- #02
Treasury Sanctions Crypto Exchange Behind Iran's Bitcoin Tolls on Hormuz Ships
OFAC also designated five additional individuals and entities tied to BitBank, and disclosed that BitBank is controlled by Babak Zanjani, moved hundreds of millions in Bitcoin to the IRGC between June and July, and that Hormuz Safe has routed toll payments through BitBank since June.
State after update: The U.S. Treasury has sanctioned Iranian crypto exchange BitBank and further designated BitBank-related Pishtaz Simorgh Electronic Trade Company and three Dot One executives under Executive Order 13902 as part of Operation Economic Outcast.
Source evidence: Decrypt