US EditionPaying Iran in Crypto Could Put Shippers at Sanctions Risk: Analyst
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Chainalysis Warns Crypto Payments to Iran Could Trigger Sanctions Risk
Shipping firms weighing cryptocurrency payments to cover potential transit fees through Iran face substantial sanctions risk, according to Kaitlin Martin, a senior intelligence analyst at Chainalysis. Under current sanctions frameworks, payments linked to the Iranian regime or other sanctioned actors can be interpreted as material support, exposing companies to both U.S. and international restrictions. The alert comes as reports circulate that T…
A warning from Chainalysis puts the focus on a delicate scenario for maritime trade: if shipping companies resort to cryptocurrencies to pay possible transit rates to Iran, they could be exposed to sanctions from the United States and other jurisdictions. The case again shows that, although digital assets facilitate cross-border payments, their blockchain traceability can also become a disadvantage. *** Chainalysis warned that any crypto payment…
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