US Sanctions Firms Linked to Iran BTC Shipping Scheme

The US Treasury Department has placed sanctions on two Iranian maritime firms accused of operating a crypto based insurance scheme. Officials claim the Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority are central to an extortion effort that accepts Bitcoin and other digital assets. These companies reportedly offered shipowners safe passage through the Strait of Hormuz in exchange for crypto payments.

Regulators believe this project was designed to generate billions in revenue for the Islamic Revolutionary Guard Corps. The scheme was allegedly promoted by financier Babak Morteza Zanjani, who reportedly moved hundreds of millions of dollars through the Binance exchange between 2024 and 2025. Treasury officials stated that Iran is using these methods to bypass economic pressures and fund military activities.

This move is part of a wider effort by the US to disrupt Iranian revenue streams and address the shadow fleet of tankers currently operating in the region. The conflict in the area has seen repeated escalations following failed peace talks and ongoing military strikes.

Traders and investors should monitor how crypto exchanges respond to these heightened sanctions. As global authorities increase their oversight of wallets linked to sanctioned entities, the pressure on platforms to identify and freeze illicit funds will likely grow.