Regulation

US Treasury Adds Iranian Crypto Exchange BitBank to Sanctions List

September 20, 2026, 8:20 PM UTC (12 days ago) · 1 source · Summarized by CryptoBipto

The US Treasury Department has placed Iranian cryptocurrency exchange BitBank on its sanctions list. The designation means that US persons and entities are generally prohibited from transacting with BitBank. The move is part of broader US efforts to restrict Iran's access to financial infrastructure, including cryptocurrency platforms.

WHY IT MATTERS

Think of a sanctions list like a government-maintained "do not interact" list. When the US Treasury adds a company to this list, it becomes illegal for anyone in the US — including US-based crypto exchanges and banks — to do business with that company. This matters in crypto because, while blockchain transactions can technically be sent by anyone, major exchanges and financial on-ramps follow these rules to avoid legal consequences. For newcomers to crypto, this is a reminder that despite the decentralized nature of blockchain technology, governments still have significant tools to restrict how and where crypto platforms operate, especially when national security concerns are involved.

The US Treasury's Office of Foreign Assets Control (OFAC) has added BitBank, an Iranian cryptocurrency exchange, to its sanctions list. OFAC maintains lists of sanctioned individuals, companies, and entities as part of US foreign policy and national security objectives.

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