Today’s designations of Iranian digital asset infrastructure make perfectly clear that efforts to finance the Iranian regime using cryptocurrencies are not beyond OFAC’s reach. If you support the Iranian regime, the Department of the Treasury will sanction you.
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Today, as part of Operation Economic Outcast, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated key components of the Iranian regime’s digital assets-based sanctions evasion infrastructure. Targets include BitBank, a priority digital assets venture controlled by OFAC-designated Iranian financier Babak Zanjani; BitBank’s developer, Pishtaz Simorgh Electronic Trade Company; and three associates of Zanjani.
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