The US has imposed sanctions on the Iranian cryptocurrency exchange BitBank, the country's Treasury Department announced.
According to the department, this organization is controlled by Babak Zanjani, a prominent Iranian entrepreneur and financier who is considered one of the richest people in the country. Zanjani was previously blacklisted by the US. According to information provided by US authorities, restrictions are also imposed on the developer of the BitBank platform, Pishtaz Simorgh Electronic Trade Company, and three of Zanjani's business partners from his company Dot One.
In practice, the US government's actions mean that the assets of these individuals and companies, if found in US jurisdiction, will be frozen. In addition, US citizens are now prohibited from conducting any business with the individuals involved, and entry into the United States will be denied to individuals on the blacklist.
The US imposed restrictive measures against Zanjani in January 2026. Washington claims that his companies facilitate the circumvention of Western sanctions against Iran. In addition, US authorities believe that Zanjani and his companies provide support to the Islamic Revolutionary Guard Corps (the elite branch of the Iranian armed forces).