Regarding Overseas Media Reports on U.S. OFAC Sanctions Against an Iranian Digital Asset Exchange

Bitbank, inc. (“bitbank”) would like to clarify certain overseas media reports concerning the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctions against an Iranian digital asset exchange.

The “BitBank” designated by OFAC is an Iranian digital asset exchange and is entirely separate and unrelated to bitbank, inc., a Japan-based company that operates the crypto asset exchange “bitbank.”

bitbank, inc. is a registered crypto asset exchange service provider in Japan under the supervision of the Kanto Local Finance Bureau (Registration No. 00004). Bitbank, inc. has no capital, business, or other affiliation whatsoever with the Iranian “BitBank” designated by OFAC.

We have identified instances in which certain overseas media outlets have used our corporate logo in their coverage of the OFAC sanctions. bitbank, inc. is not subject to these sanctions and has no connection whatsoever with the “BitBank” referenced in OFAC’s announcement.

We respectfully ask media organizations to refrain from using our logo, images, or any wording that could create the false impression that bitbank, inc. is subject to these sanctions. We also ask that any reporting on this matter be based on accurate information and clearly distinguish bitbank, inc. from the entity designated by OFAC.

References

Financial Services Agency of Japan: List of Registered Crypto Asset Exchange Service Providers
https://www.fsa.go.jp/menkyo/menkyoj/kasoutuka.pdf

U.S. Department of the Treasury: “Operation Economic Outcast Disrupts Digital Asset Exchange Enabling the Iranian Regime”
https://home.treasury.gov/news/press-releases/sb0632/