The US just blacklisted the Iranian maritime scheme forcing commercial ships to pay Bitcoin tolls for safe passage

The U.S. Office of Foreign Assets Control added two Iranian maritime insurance firms to its Specially Designated Nationals list on July 29, designating HormuzSafe Marine Services Authority and Persian Gulf Marine Insurance Company as blocked counterparties for U.S. persons and for transactions within or transiting the United States.The OFAC notice lists both Iranian maritime insurance firms under Executive Order 13902 for operating in Iran’s financial sector and says each is subject to secondary sanctions. HormuzSafe had previously been described as a Bitcoin-settled insurance proposal. The designation adds two named entities to an existing sanctions-risk framework.The Treasury Department alleged that HormuzSafe and PGMIC support an Islamic Revolutionary Guard Corps-backed scheme that forces commercial vessels to buy purported insurance for passage through the Strait of Hormuz. Treasury also said HormuzSafe accepts Bitcoin and other digital assets to bypass Western sanctions. Neither July 29 page identifies wallet addresses or payment volume.A separate shadow-fleet component of the same action designated eight companies for operating in Iran’s petroleum sector and identified eight ...