The U.S. Department of the Treasury’s Office of Foreign Assets Control designated Iranian digital asset exchange BitBank, its software developer Pishtaz Simorgh Electronic Trade Company and three associates of designated Iranian financier Babak Zanjani. The action targets infrastructure allegedly used to evade sanctions and transfer hundreds of millions of dollars in Bitcoin to the Islamic Revolutionary Guards Corps under Operation Economic Outcast. Between June and July 2026, Zanjani used BitBank to facilitate Bitcoin transfers to the Islamic Revolutionary Guards Corps, while designated Hormuz Safe Marine Services Authority has used the exchange since June to transfer payments to the Iranian regime. OFAC also designated Dot One executives Hossein Ali Zaker Hossein, Mohammad Mahdi Zaker Hossein and Seyed Adel Heidari for acting on behalf of Zanjani or designated entities in his network. The designations were imposed under Executive Order 13902, including for operating in Iran’s digital asset sector. Property and interests in property of the designated persons within the United States or controlled by U.S. persons are blocked and must be reported to OFAC. Entities owned 50% or more by blocked persons are also blocked, and U.S. persons generally may not conduct transactions involving them without authorization or an exemption. Financial institutions and other U.S. and non-U.S. persons may also face sanctions exposure for certain dealings with designated parties or for facilitating sanctions evasion.

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