US Treasury Sanctions Iran's BitBank Over Alleged Bitcoin Transfers to Revolutionary Guard
The US Treasury sanctioned the Iranian crypto exchange BitBank, according to The Block and Cointelegraph. Treasury said the previously sanctioned Hormuz Safe platform used BitBank to transfer payments it had collected since June, according to The Block.
- Treasury said BitBank processed payments received through Iran’s Strait of Hormuz maritime scheme, according to Cointelegraph.
- Treasury said BitBank helped move hundreds of millions of dollars in bitcoin to the Islamic Revolutionary Guard Corps, according to Cointelegraph.
Separately, bitcoin moved above Ether and XRP ETFs post outflows as bitcoin moves above $77,000.
while ether and XRP exchange-traded funds posted outflows, according to CoinDesk. CoinDesk’s Crypto for Advisors newsletter also addressed looking beyond bitcoin and ether for portfolio exposure, according to CoinDesk.
Sources: CoinDesk, The Block, Cointelegraph
This article is for information only and is not financial advice.
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