The U.S. Treasury Department has sanctioned Hormuz Safe, a platform tied to an alleged insurance arrangement for ships operating in the Strait of Hormuz, according to CoinDesk. Treasury said the platform accepted bitcoin and other digital assets as part of what it described as a sanctions workaround. The department linked the scheme to shipping controls backed by Iran’s Islamic Revolutionary Guard Corps, or IRGC. The action puts a crypto element into a broader sanctions case centered on maritime activity in one of the world’s most sensitive shipping corridors. CoinDesk reported the story on July 31, 2026. The article was written by Di Shaurya Malwa and edited by Stephen Alpher.
The U.S. Treasury Department has sanctioned Hormuz Safe, saying the platform accepted bitcoin and other digital assets as part of an alleged sanctions workaround tied to ships in the Strait of Hormuz.
Treasury names Hormuz Safe
According to CoinDesk, Treasury said Hormuz Safe was involved in a ship insurance arrangement connected to the Strait of Hormuz. The department said the platform accepted bitcoin and other digital assets as part of the alleged structure.
Treasury linked the arrangement to shipping controls backed by Iran’s Islamic Revolutionary Guard Corps, or IRGC.
Article details
CoinDesk published the report on July 31, 2026. It was written by Di Shaurya Malwa and edited by Stephen Alpher.
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