US Hits Iranian Crypto Maritime Scheme With New Sanctions

The US Office of Foreign Assets Control recently added HormuzSafe Marine Services Authority and Persian Gulf Marine Insurance Company to its list of blocked entities. These firms were allegedly supporting a scheme backed by the Islamic Revolutionary Guard Corps. The operation pressured commercial vessels to purchase insurance for passage through the Strait of Hormuz, with the firms accepting Bitcoin and other digital assets to avoid Western financial scrutiny.

This move prevents US citizens and companies from doing business with these organizations. Any assets linked to these firms that enter US jurisdiction must now be frozen. The Treasury Department highlighted these designations as part of an effort to disrupt financial channels used to bypass international sanctions.

For the crypto market, this highlights the ongoing tension between digital assets and global trade policy. While the sanctions focus on specific Iranian entities, they serve as a warning for how authorities track crypto payments in sensitive shipping lanes. Traders should watch for how exchanges and custody providers respond to these blocked entities, as strict liability rules make compliance a critical concern for anyone operating in this space.