OFAC Warns Crypto Payments for Iran's Hormuz Fees Would Breach U.S. Sanctions

OFAC warned that paying Iran’s Strait of Hormuz passage fees in digital assets would violate U.S. sanctions. OFAC said U.S. persons are barred from transacting with Iranian digital asset exchanges because those exchanges are treated as sanctioned Iranian financial institutions. OFAC also said non-U.S. persons who use Iranian crypto exchanges could face secondary sanctions that cut off access to the U.S. financial system.

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