• OFAC added the Iranian crypto exchange BitBank and its developer to the sanctions list.
• The U.S. Treasury said the platform was used to transfer hundreds of millions of dollars’ worth of bitcoin to the IRGC.
• The restrictions were part of Operation Economic Outcast targeting Iran’s financial infrastructure.

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions on the Iranian crypto exchange BitBank. The agency claims the platform was used to transfer hundreds of millions of dollars’ worth of bitcoin to the Islamic Revolutionary Guard Corps (IRGC).

According to the Treasury, BitBank is controlled by Iranian businessman Babak…