[U.S. Treasury Sanctions Iranian Exchange BitBank for Transferring Bitcoin to IRGC] According to a report by Unchained on September 21, the U.S. Treasury's Office of Foreign Assets Control (OFAC) announced sanctions against Tehran-based cryptocurrency exchange BitBank, alleging that the platform transferred hundreds of millions of dollars in Bitcoin to the Islamic Revolutionary Guard Corps (IRGC). OFAC stated that BitBank is controlled by Iranian financier Babak Zanjani, who was already designated in January of this year. Zanjani reportedly used the platform to complete transfers between June and July, with the designation made under Executive Order 13902. The sanctions also extend to the software development company Pishtaz Simorgh and its parent company Dot One, along with three of their executives. Treasury Secretary Besant remarked that using cryptocurrency to finance the regime "is not beyond OFAC's reach." Additionally, the Hormuz Safe organization, which sells security for passage through the Strait of Hormuz, has been transferring its proceeds via BitBank since June. This organization was sanctioned in July. OFAC has not disclosed the associated wallet addresses.