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Techub News reports that, according to CryptoBriefing, the U.S. Department of the Treasury announced sanctions on 13 ships and 8 entities on May 7, claiming their involvement in Iran's oil transportation network to China. The department pointed out that relevant parties may use cryptocurrencies (especially USDT) to evade international sanctions, and Iran has mined over 10k Bitcoin since 2019 for cross-border payments.
It is reported that recently Iran and Chinese companies have been exploring oil trade settlements through decentralized finance platforms. After the sanctions announcement, Bitcoin's price dropped about 2% the next day. Analysts suggest that such sanctions could accelerate the demand for blockchain analysis and compliance tools.