The U.S. Treasury sanctioned BitBank, a Tehran exchange it says moved hundreds of millions of dollars in bitcoin to the Revolutionary Guards and handled payments collected from ships buying passage through the world’s mo

  • The U.S. Treasury sanctioned Tehran-based cryptocurrency exchange BitBank and its software developer, alleging the exchange moved hundreds of millions of dollars in Bitcoin to Iran’s Islamic Revolutionary Guard Corps.
  • Treasury said BitBank also processed some fees collected by Hormuz Safe Marine Services Authority, which has charged tankers $1 million to $2 million for “safe passage” through the Strait of Hormuz.
  • The sanctions freeze BitBank’s property under U.S. jurisdiction and threaten foreign institutions that process its transactions with exclusion from the U.S. financial system, though Treasury identified no cryptocurrency wallet addresses.

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The Definitive Stablecoin Landscape Series: Asia Pacific

As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.

Why it matters :

As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.

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