US Treasury Sanctions Iranian Firms Taking Bitcoin for Hormuz Passage
Decrypt·
60-second summary
The US Treasury's Office of Foreign Assets Control (OFAC) is sanctioning two Iranian firms, including Hormuz Safe, which accepts payment in Bitcoin and other digital assets, for facilitating the Hormuz Strait passage. The sanctions target entities involved in Iran's oil trade, impacting global oil prices and further straining US-Iran relations.
OFAC sanctioned two Iranian firms including Hormuz Safe, which “accepts payment in Bitcoin and other digital assets.”