Odaily Planet Daily News: Bitcoin News on X stated that the U.S. Treasury has sanctioned the Iranian BitBank, saying the exchange processed bitcoins paid by ships under the Hormuz security insurance program. The U.S. Office of Foreign Assets Control said that as of June, these funds had been transferred to Iran’s Islamic Revolutionary Guard Corps. Babak Zanjani’s network used the exchange to move billions of dollars worth of bitcoins. U.S. Treasury Secretary Scott Bessent said that bitcoin payment channels are not beyond the regulation of the U.S. Office of Foreign Assets Control.