Iran Ran Strait of Hormuz ‘Toll Booth’ Through Bitcoin Exchange, US Says
Key Highlights The U.S. Treasury’s Office of Foreign Assets Control (OFAC) has designated Iranian crypto exchange BitBank, freezing its U.S.-based assets and imposing secondary sanctions that threaten foreign firms processing its transactions. Iran’s Economy Ministry developed HormuzSafe, a platform offering insurance, traffic control, and emergency response to vessels in the Strait of Hormuz for payment, ...