[U.S. Sanctions Iranian Crypto CEX BitBank, Accuses It of Handling Payments for 'Hormuz Passage Fees'] On September 18, according to a report by Reuters via X, the U.S. Treasury Department announced sanctions against the cryptocurrency CEX BitBank, controlled by Iranian financier Babak Zanjani. The exchange is accused of facilitating payments related to the safe passage of ships through the Strait of Hormuz and transferring hundreds of millions of dollars to the Islamic Revolutionary Guard Corps of Iran. BitBank's software developers and three associates of Babak Zanjani have also been added to the sanctions list. The U.S. Treasury Department stated that the exchange serves as a critical infrastructure for Iran to evade sanctions using digital assets.