WASHINGTON — The US Treasury Department on Thursday imposed sanctions on an Iranian cryptocurrency exchange as part of an economic campaign against the regime and its financial enablers. 

The department’s Office of Foreign Assets Control (OFAC) designated BitBank, which it described as a priority digital assets venture controlled by the previously sanctioned Iranian financier Babak Zanjani. Also sanctioned on Thursday were BitBank’s developer and three associates of Zanjani.

According to OFAC, Iran’s digital maritime-insurance scheme known as Hormuz Safe has used BitBank to transfer payments it received to the Iranian regime.  

US Treasury Secretary Scott Bessent said in a statement that the latest sanctions “make perfectly…