TechFlow reported on September 18 that, based on Reuters, the U.S. Division of the Treasury introduced sanctions in opposition to the cryptocurrency change BitBank, which is managed by Iranian financier Babak Zanjani, accusing it of processing associated funds for ships safely transiting the Strait of Hormuz and transferring a whole bunch of tens of millions of {dollars} to Iran’s Islamic Revolutionary Guard Corps.
BitBank’s software program developer and three associates of Babak Zanjani had been additionally positioned on the sanctions listing. The U.S. Treasury said that the change serves as crucial infrastructure for Iran to make use of digital belongings to evade sanctions.
