[News Brief] Apr 22, morning | U.S. Treasury Warns That Paying Iran Strait of Hormuz Transit Fees in Digital Assets May Violate Sanctions

U.S. Treasury OFAC Warns That Paying Iran ‘Strait of Hormuz Transit Fees’ in Digital Assets May Violate Sanctions

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) warned that paying so-called Strait of Hormuz transit fees to Iran through digital assets or other means could violate U.S. sanctions on Iran.

According to panewslab.com, OFAC said that in connection with fees recently demanded by Iran under the pretext of guaranteeing safe passage, payments made in currency, digital assets, offset arrangements, in-kind transfers, or donations to accounts linked to the Iranian Red Crescent Society, Bonyad Mostazafan, or Iranian embassy accounts could be regarded as support for the Iranian government or the Islamic Revolutionary Guard Corps (IRGC).

OFAC emphasized that transactions involving the Iranian government, the IRGC, or Iranian digital asset exchanges are generally prohibited for U.S. persons and foreign entities owned or controlled by U.S. persons. It added that non-U.S. entities involved in such payments or providing support to Iranian financial institutions could also face secondary sanctions or civil and criminal liability.

It also urged shipping and maritime service providers to conduct enhanced due diligence on vessels transiting Iranian waters or calling at Iranian ports.

Reuters: Iranian Exchange Nobitex Suspected of Processing Transactions Linked to the Central Bank and IRGC

Reuters reported two days ago that Ali and Mohammad, co-founders of Iran’s largest cryptocurrency exchange Nobitex, are suspected of belonging to the influential Karaji family in Iran, and that the platform is accused of processing crypto transactions linked to the Central Bank of Iran and the IRGC, helping them evade sanctions.

According to the report, Nobitex—while not itself under U.S. sanctions—was identified as having brokered related transactions worth from tens of millions to hundreds of millions of dollars. Blockchain analytics firm Elliptic estimated that roughly $500 million in cryptocurrency moved through Central Bank of Iran wallets between November 2024 and June 2025, of which about $347 million flowed into Nobitex in the first half of 2025.

The investigation also found that Nobitex had conducted sizable fund transfers with overseas exchanges including Binance. It was also reported that during Iran’s wartime internet shutdowns, some whitelisted users were still able to access its services.

Nobitex had previously been reported to have transferred more than $2.3 billion since 2023.

Trump: Iran Must Either Be Completely Destroyed or Reach a Deal

President Trump said regarding policy options toward Iran that “Iran must either be completely destroyed or reach a deal.”

Earlier, President Trump had expressed dissatisfaction with Iran’s latest proposal in negotiations. Pakistani authorities said Iran’s latest proposal had been delivered to the U.S. side, though specific details have not yet been disclosed.

The remarks are being interpreted as again highlighting geopolitical tensions in the Middle East and uncertainty surrounding U.S.-Iran talks.

Iran Sends Softer New Proposal to the U.S., Suggests Talks on Keeping Strait of Hormuz Open

Iran has delivered a new proposal with softened terms to Washington in an effort to resume negotiations with the United States, according to The Wall Street Journal.

According to the report, Iran proposed discussing the opening of the Strait of Hormuz at the same time as a halt to U.S. attacks and the lifting of the blockade on Iranian ports. This marks a step back from its earlier position that lifting the blockade was a precondition for starting talks.

Iran also reportedly demanded sanctions relief from the United States in exchange for discussing nuclear-related issues. It also informed mediators that if Washington is open to the proposal, Iran would be prepared to attend talks in Pakistan early next week.

The proposal is being interpreted as an attempt to break the deadlock as the prolonged war increases pressure on Iran’s economy. Any easing of Middle East tensions could also affect global risk assets and commodity markets.

Circle Mints Additional 250 Million USDC on Solana

Circle minted an additional 250 million USDC on the Solana blockchain.

According to PANews and on-chain data, Circle issued 250 million new USDC on the Solana network earlier today. Additional stablecoin issuance is generally interpreted as liquidity provision to meet expanding trading and payment demand.

Circle has previously adjusted USDC issuance across multiple blockchains in line with market demand. However, such issuance does not necessarily imply immediate market inflows or increased buying pressure.

Anchorage Digital Submits Comments to OCC on GENIUS Act, Plans Fourth Co-Issued Stablecoin

Anchorage Digital submitted a comment letter on the OCC’s proposed rules under the GENIUS Act, according to Odaily.

Anchorage Digital currently co-issues three stablecoins with partners: USAT in cooperation with Tether, USDGO with OSL Group, and USDtb with Ethena. The company said it plans to co-launch a fourth stablecoin, UDSPT, with Western Union in the near future.

Anchorage Digital added that it expects to become a formally licensed issuer of payment stablecoins once the GENIUS Act takes effect.

Whale Transfers 300 Million USDT From Unknown Wallet to HTX

A whale transferred 300 million USDT, worth about $299.97 million, from an unknown wallet to HTX, according to Whale Alert.

Exchange inflows are often interpreted as funds being positioned for trading or purchases, but on-chain transfers alone cannot confirm actual trading intent or purpose.

Source: Whale Alert.

Bitcoin Falls Below $78,000 on OKX

Bitcoin fell below the $78,000 level on OKX. The current price is $77,990.6, while its 24-hour gain narrowed to 1.91%.

According to Odaily, the pullback is being interpreted as a sign that the recent short-term upward momentum has somewhat weakened.

3,690 BTC Moved Between Anonymous Wallets, Worth About $289 Million

According to Whale Alert, 3,690 BTC were moved from one anonymous wallet to another. The transaction was worth about $289.11 million.

The transfer was confirmed as a large on-chain movement, but it remains unclear whether it involved exchange deposits or withdrawals, or whether it was intended for selling. It may simply reflect wallet reorganization, limiting its market impact.

ETH Ecosystem Token uPEG Surges 99% After Market Cap Tops $22 Million

ETH ecosystem token uPEG briefly surpassed a market capitalization of $22 million intraday and is currently valued at about $21.8 million, according to Odaily, citing GMGN data.

Its daily gain exceeded 99%, marking a sharp rally.