US authorities on Thursday announced sanctions against Iranian crypto exchange BitBank, accusing it of processing Bitcoin paid by ships transiting the Strait of Hormuz.The US Department of the Treasury’s Office of Foreign Assets Control said that as of June, the Hormuz Safe Marine Services Authority used BitBank to transfer payments it received to the Islamic Revolutionary Guard Corps. The Treasury alleged it is part of the architecture used by Iranian financier Babak Zanjani to move hundreds of millions of dollars in Bitcoin to the IRGC.Treasury has previously alleged Hormuz Safe is part of an IRGC-backed scheme forcing vessels to buy maritime insurance for passage, including coverage against seizures by Iran itself.“Today’s designations of Iranian digital asset infrastructure make perfectly clear that efforts to finance the Iranian regime using cryptocurrencies are not beyond OFAC’s reach,” said US Treasury Secretary Scott Bessent. The designation is the latest Treasury action aimed at isolating Iran from the international financial system, including through sanctions on digital asset exchanges. The OFAC designations include BitBank, its developer Pishtaz Simorgh Electronic Trade Company and three associates of Zanjani, with the Treasury calling them “key components of the Iranian regime’s digital assets-based sanctions evasion infrastructure.”Cointelegraph reached out to BitBank for comment. Iran’s BitBank is a separate entity from bitbank, inc, a fully licensed crypto exchange founded in 2014 in Japan, which was acquired by SBI Holdings in June. Treasury’s designation lists BitBank as having been established in 2024. Related: Bitcoin tops $79K, oil falls as Trump says Iran war could end In August, the US sanctioned two digital asset exchanges, Shelbit and Aban Tether, accusing them of assisting the Iranian regime in sanctions evasion. Treasury also sanctioned four crypto exchanges, including the country’s largest, Nobitex, in June. In July, the US government ordered the freezing of more than $130 million in USDt held in wallets linked to Iran. Iran has reportedly sought to mitigate the impact of tightening financial restrictions. Earlier this month, the Financial Times reported that Iran’s central bank eased foreign currency controls to encourage businesses to bring overseas earnings home, including through cryptocurrency, amid tightening US sanctions. Magazine: North Korea drives onchain malware surge, CoinEx shuts: Asia Express
This partnership could accelerate crypto adoption in traditional finance, potentially influencing market dynamics and regulatory landscapes. The post Coinbase partners with Stablecore to integrate crypto in US community banks appeared first on Crypto Briefing.
S&P Global agreed to acquire smart contract security firm OpenZeppelin, expanding its digital asset business into the technology underpinning tokenized finance. On Sept. 17, the financial data and ratings company said that OpenZeppelin will continue operating under its own name as a separate business unit. Chief Executive Demian Brener will remain in charge and report […]
Palantir Technologies (PLTR) CEO Alex Karp told CNBC on Thursday that the loudest voices in the AI safety debate are quietly angling for nationalization. Karp said frontier labs, including Anthropic, are using the risks of their own technology to argue that governments, not courts, should absorb the fallout. Karp Ties the Safety Debate to Liability […]
Ripple’s CFOs are shifting their perspective on digital assets, moving from viewing them as speculative to recognizing their practical utility in business operations. This change highlights the potential for assets like $XRP and $RLUSD to enhance treasury management, payroll, and cross-border transactions. As on-chain markets operate continuously, this could lead to innovative ways for businesses […]
The AVA token, tied to Binance-backed travel platform Travala, surged as much as 112% intraday, swinging from a low near $0.155 to a high of $0.329. The move followed Bithumb opening a new Korean won trading pair for the token. AVA has since eased back to around $0.27, still up roughly 72% over 24 hours. […]
Caroline D. Pham took to social media, stating that the SEC and CFTC are working diligently to establish clear rules for the crypto market. Her tweet highlights a significant commitment from both regulatory bodies to provide guidance in a sector that has long sought clarity. This move could signal a shift in compliance expectations for […]
Bitcoin traders may have less to fear from the Federal Reserve’s latest tightening than during the last bear market, according to Grayscale. The crypto asset manager sees the current rate cycle as a limited adjustment rather than a prolonged policy shift. Grayscale Sees a Different Fed Cycle for Bitcoin Bitcoin traders should not treat the […]
Lee’s policy struggles and Trump’s criticism could hinder his political maneuverability, impacting South Korea’s domestic and international dynamics. The post South Korean President Lee Jae Myung faces pressure from Trump amid policy struggles appeared first on Crypto Briefing.
The sale could shift regional power dynamics, challenge Israel’s military edge, and risk sensitive tech exposure to China via Saudi ties. The post US approves $24B sale of F-35 fighter jets to Saudi Arabia appeared first on Crypto Briefing.
