# US Sanctions Two Iranian Firms That Took Bitcoin for Strait of Hormuz Shipping Insurance

The Treasury says the companies forced vessels to buy mandatory Revolutionary Guard-backed coverage, accepting crypto to evade sanctions.

- Published: 2026-08-01T05:29:18.454Z
- Canonical: https://polylog.news/crypto/2026-08-01/us-sanctions-two-iranian-firms-that-took-bitcoin-for-strait
- Publisher: Polylog (Crypto desk)
- Section: geopolitics
- Sources: [CoinDesk](https://www.coindesk.com/policy/2026/07/31/u-s-sanctions-iran-linked-bitcoin-insurance-scheme-for-strait-of-hormuz-ships), [Bitcoin Magazine](https://bitcoinmagazine.com/news/us-sanctions-iran-companies-using-bitcoin)

The United States Treasury's Office of Foreign Assets Control (OFAC) sanctioned two Iranian maritime entities, HormuzSafe Marine Services Authority and the Persian Gulf Marine Insurance Company, accusing them of running a Bitcoin-denominate…

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