U.S. sanctions Iran-linked bitcoin insurance scheme for Strait of Hormuz ships
CoinDesk·
60-second summary
The U.S. Treasury Department is sanctioning the Hormuz Safe platform, which allegedly accepted bitcoin and other digital assets as part of an Iran-linked sanctions workaround tied to IRGC-backed shipping controls, targeting ships passing through the Strait of Hormuz. The platform's activities are being targeted, with implications for global cryptocurrency regulation and compliance.
The Treasury Department said the Hormuz Safe platform accepted bitcoin and other digital assets as part of an alleged sanctions workaround tied to IRGC-backed shipping controls.