The U.S. Treasury has sanctioned Iranian digital asset exchange BitBank, its software developer Pishtaz Simorgh and parent company Dot One, along with three executives, over alleged transfers of hundreds of millions of dollars in Bitcoin to Iran’s Islamic Revolutionary Guard Corps (IRGC). The Office of Foreign Assets Control (OFAC) says BitBank was controlled by Iranian financier Babak Zanjani, who was designated in January, and used the platform for transfers between June and July under Executive Order 13902. OFAC also says Hormuz Safe, an organization selling passage security in the Strait of Hormuz and sanctioned in July, routed payments collected through BitBank from June onward. The Treasury did not disclose related wallet addresses. The designations represent U.S. government allegations underlying sanctions and not a criminal conviction.