Islamic Revolutionary Guard Corps

Natural gas pulled back as traders locked in gains following a rally linked to a Columbia Gas Transmission pipeline outage. WTI and Brent also moved lower as markets weighed reports of possible U.S. and Iran negotiations tied to reopening the Strait of Hormuz.

The U.S. Treasury has sanctioned Tehran-based crypto exchange BitBank and its software developer over alleged Bitcoin transfers linked to Iran’s Revolutionary Guard Corps. Officials said the exchange also processed some payments connected to safe-passage fees charged to tankers crossing the Strait of Hormuz.

The U.S. Treasury has sanctioned Shelbit Exchange and Iran-based Aban Tether, alleging the platforms helped Iran move funds outside traditional banking channels. The action expands Washington’s campaign against crypto networks and shadow banking channels tied to sanctioned Iranian entities.

A Dubai-based crypto exchange has become the focus of allegations involving a $4 billion Iranian sanctions-evasion network tied to illegal gambling platforms and sanctioned entities. Investigators say funds connected to Shelbit moved through major global crypto venues, while Binance says Shelbit never held an account on its platform and that it froze relevant accounts after review.