US Sanctions Iranian Crypto Exchange BitBank Over IRGC Bitcoin Transfers

This action extends US sanctions pressure from a named platform to the exchange that allegedly serviced it, showing enforcement is now tracking the payment rails behind already-designated entities rather than just the entities themselves. The practical effect falls on counterparties who still touch Iranian exchange liquidity, since secondary exposure is where compliance risk concentrates. Whether Treasury keeps naming intermediary exchanges, and how remaining venues adjust their screening of Iran-linked flows, is the open question worth watching.