The US Treasury Department has imposed sanctions on Iran's cryptocurrency exchange BitBank, alleging that it has facilitated payments for the 'Hormuz Safe' maritime scheme. The scheme is a scheme to circumvent US sanctions by moving oil through the Strait of Hormuz. BitBank allegedly processed these payments and helped move hundreds of millions of dollars in Bitcoin to the Iranian Revolutionary Guard Corps (IRGC).
Source
"US Sanctions Iran's BitBank Over Bitcoin Payments" — Cointelegraph
This article is Bitcoincryptos' summary and analysis of reporting originally published by Cointelegraph. Read the full original report at the link above.
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