On July 29, the U.S. Treasury Department added two Iranian maritime companies—Persian Gulf Marine Insurance and HormuzSafe—to its sanctions list. According to the regulator, these companies accepted Bitcoin and other digital assets to circumvent sanctions. The document also claims that the firms generated revenue for the Islamic Revolutionary Guard Corps and assisted Tehran in controlling shipping through the Strait of Hormuz. In addition to the companies, eight vessels and an equal number of firms linked to Iran's "shadow fleet" were also subjected to restrictions.