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Iran Considers Crypto Tolls Amid Sanctions Warnings

Iran Considers Crypto Tolls Amid Sanctions Warnings

MGR Online•Economy•1d ago

Reader Briefing

Iran is reportedly considering collecting tolls for maritime passage in cryptocurrency, a move that risk analysis firm Chainalysis warns could lead to significant sanctions violations.

  • •Iran is reportedly exploring the use of cryptocurrencies to collect tolls from international cargo ships.
  • •Blockchain analytics firm Chainalysis cautions that such transactions could be seen as material support to Iran, leading to sanctions violations.
  • •The US, under President Donald Trump, has stated it will not accept any such attempts by Tehran to collect tolls on strategically vital waterways.
  • •Iran has been expanding its use of digital assets, particularly stablecoins, for trading oil, weapons, and commodities.

Overview

  • •Amidst reports of Iran possibly levying tolls in cryptocurrency, Chainalysis has issued a warning about significant sanctions risks.
  • •Chainalysis warns that such transactions carry a high risk of being interpreted as "material support" to a regime under layered sanctions.
  • •Companies making crypto payments to Iran for passage could face significant sanctions risks, potentially violating US and international prohibitions.
  • •The Islamic Revolutionary Guard Corps (IRGC) is sanctioned by multiple jurisdictions, and Iran itself faces comprehensive US sanctions.
  • •Chainalysis analyst Kaitlin Martin stated under current sanctions, any payment to Iran could be construed as "material support."
  • •Martin also noted that blockchain transactions are transparent and leave permanent traces, potentially making crypto easier to track than traditional evasion methods.
  • •Other sanctioned nations, like Russia using digital tokens for cross-border trade after sanctions following the 2022 Ukraine invasion, are exploring similar avenues.
  • •Iran's Bitcoin mining has significantly dropped by approximately 7 exahashes per second in recent months, leaving about 2 exahashes per second, amidst escalating tensions with the US and Israel.

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Key Quotes

Kaitlin Martin
"Under current sanctions, any payment to Iran, regardless of involvement in strategic waterways, could be interpreted as "material support.""
ภายใต้กรอบมาตรการคว่ำบาตรที่บังคับใช้อยู่ในปัจจุบัน การชำระเงินใดๆ ให้แก่ระบอบอิหร่าน ไม่ว่าจะเกี่ยวข้องกับการผ่านเส้นทางน้ำสำคัญหรือไม่ก็ตาม อาจถูกตีความได้ว่าเป็น "การสนับสนุนทางวัตถุ"
Kaitlin Martin
"Such actions could lead to severe sanctions violations, as Iran's IRGC is sanctioned by multiple jurisdictions."
การกระทำดังกล่าวอาจนำมาซึ่งความเสี่ยงในการละเมิดมาตรการคว่ำบาตรอย่างร้ายแรง เนื่องจากกองกำลังพิทักษ์การปฏิวัติอิสลาม (IRGC) ของอิหร่านถูกคว่ำบาตรโดยหลายเขตอำนาจศาล
Kaitlin Martin
"In many aspects, crypto may be easier to track than traditional evasion methods."
ในหลายแง่มุม คริปโตอาจติดตามได้ง่ายกว่าวิธีการหลบเลี่ยงมาตรการคว่ำบาตรแบบดั้งเดิมเสียอีก

Key Entities

Place

Iran(อิหร่าน)ℹ️
A country reportedly considering collecting tolls in cryptocurrency for maritime passage.
United States(สหรัฐฯ)ℹ️
A country imposing sanctions on Iran and stating it will not accept attempts to collect tolls in cryptocurrency.
International(นานาชาติ)
Referring to global sanctions and prohibitions that Iran and entities dealing with it may violate.
Tehran(เตหะราน)ℹ️
The capital of Iran, representing the Iranian government's potential actions.
Russia(รูสเซีย)ℹ️
A sanctioned country that is exploring similar digital token avenues for cross-border trade following the 2022 Ukraine invasion.

Organization

Chainalysisℹ️
A blockchain analytics firm that has warned Iran about sanctions risks associated with cryptocurrency toll collection.
Cointelegraphℹ️
A news outlet that interviewed Chainalysis analyst Kaitlin Martin.
Islamic Revolutionary Guard Corps (IRGC)(กองกำลังพิทักษ์การปฏิวัติอิสลาม (IRGC))ℹ️
An Iranian military organization that is sanctioned by multiple jurisdictions.

Person

Kaitlin Martin(เคทลิน มาร์ติน)
Senior intelligence analyst at Chainalysis who commented on the sanctions risks of Iran using cryptocurrency.
Donald Trump(โดนัลด์ ทรัมป์)ℹ️
Former President of the United States who declared no acceptance of Iran's crypto toll collection efforts on strategic waterways.