US Treasury sanctions four individuals, nine entities linked to Babak Zanjani’s sanctions evasion network
Crypto Briefing 2026-07-24 15:06:26
Context: The US Treasury Department has imposed sanctions on four individuals and nine entities connected to Babak Zanjani, a key figure in a sanctions evasion network. This move is part of a broader effort to crack down on cryptocurrency exchanges that have been used to circumvent economic sanctions. The sanctions evasion network is accused of processing $94 billion in transactions.
Key Facts
- The US Treasury Department's Office of Foreign Assets Control (OFAC) has designated four individuals and nine entities for their role in supporting Babak Zanjani's sanctions evasion network, which utilized cryptocurrency exchanges to facilitate illicit transactions.
- The sanctions evasion network, linked to Zanjani, is alleged to have processed a staggering $94 billion in transactions, highlighting the significant scale of the illicit activities.
- The Treasury Department's action expands on previous efforts to target cryptocurrency exchanges and networks that have been used to evade economic sanctions, underscoring the US government's commitment to enforcing its sanctions regimes through the use of financial pressure and diplomatic efforts.