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U.S. Treasury sanctions Iranian exchange Bitbank over bitcoin fund moves

The U.S. Treasury has added Iranian cryptocurrency exchange Bitbank to its sanctions list, targeting what it describes as networks used to move bitcoin to help Iran evade sanctions. The action is part of the Trump administration’s “Operation Economic Outcast” campaign of economic pressure on Iran. The Treasury also designated Iranian financier Babak Zanjani, his software firm, and three associates. Treasury Secretary Scott Bessent said the move shows crypto financing is not beyond U.S. reach.

Crypto

SBI Holdings says XRP weakness due to U.S. regulatory uncertainty, awaits Congress decision

SBI Holdings said XRP’s recent weakness reflects uncertainty over U.S. digital asset regulation, as markets watch whether the U.S. Senate will pass the Clarity bill. Director Yasuo Nishikawa (니시카와 야스오) said investors are delaying new positions until a clearer framework emerges. XRP traded near $1.06, down 1.34 percent in 24 hours, 2.29 percent over a week and 42.31 percent year-to-date. SBI said it maintains its long-term investment stance in Ripple.

Crypto

Bitcoin enters volatile August after July rebound, faces \'August curse\'

Bitcoin has entered August trading after rebounding in July, with market attention on whether it can defy the so-called “August curse.” U.Today said bitcoin’s average August return since 2013 is slightly above 1 percent, but the median is negative, with most years ending in losses. It cited recent August declines in 2022 and 2023. The outlet flagged liquidity, technical resistance levels and a potential U.S. vote on the Clarity Act as key factors.