Want to know what happened in crypto today? The latest developments include new US sanctions involving Bitcoin payments, expanded CFTC relief for passive trading software providers, and a temporary SEC framework for tokenized US stock trading.
These developments could affect Bitcoin, crypto regulation, blockchain adoption and the growing connection between traditional financial markets and onchain technology.
US Sanctions Iranian Crypto Exchange Over Bitcoin Payments
The United States has imposed sanctions on Iranian cryptocurrency exchange BitBank, accusing the platform of processing Bitcoin payments connected to ships passing through the Strait of Hormuz.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) said the Hormuz Safe Marine Services Authority had used BitBank to transfer payments to Iran’s Islamic Revolutionary Guard Corps (IRGC).
According to the Treasury, the activity formed part of a wider financial network linked to Iranian financier Babak Zanjani. US authorities allege that the network helped transfer hundreds of millions of dollars worth of Bitcoin to the IRGC.
The Treasury has previously claimed that Hormuz Safe forms part of an IRGC-backed system requiring vessels to purchase maritime insurance before traveling through the Strait of Hormuz. This reportedly includes protection against potential vessel seizures by Iran.
US Treasury Secretary Scott Bessent said the latest sanctions demonstrate that cryptocurrency transactions used to finance sanctioned Iranian entities remain within OFAC’s enforcement reach.
The action highlights the increasing focus of US regulators on the use of Bitcoin and digital assets in international financial transactions.
CFTC Expands Relief for Passive Crypto Trading Software
Meanwhile, the Commodity Futures Trading Commission (CFTC) has expanded regulatory relief for providers of passive trading software.
The new position applies to software companies that connect users with regulated derivatives firms and exchanges.
In a no-action position issued on Thursday, the CFTC’s Market Participants Division said it would not recommend enforcement against qualifying software providers for failing to register as introducing brokers or associated persons.
However, companies must meet specific conditions to qualify for the relief.
For example, providers must maintain a limited role in users’ transactions. They cannot exercise discretionary control over customer orders or perform certain activities normally associated with regulated intermediaries.
The change could be particularly important for crypto wallets and trading applications.
These platforms may now have greater flexibility to provide access to regulated derivatives products, including perpetual contracts and prediction markets, without automatically becoming CFTC-regulated introducing brokers.
As a result, the decision could encourage further integration between decentralized applications and regulated US derivatives markets.
SEC Allows Limited Trading of Tokenized US Stocks
The US Securities and Exchange Commission (SEC) has also approved a temporary exemption for limited trading of tokenized US equities on certain blockchain-based platforms.
Under the new innovation exemption, Tokenized Securities Venues, or TSVs, will be able to offer permissioned trading of tokenized National Market System stocks.
The framework allows trading through technologies such as automated market makers and liquidity pools.
However, participating venues must follow several requirements. These include transaction transparency, recordkeeping standards and technology safeguards.
SEC Commissioner Mark Uyeda said venues must also regularly publish transaction information denominated in US dollars.
The required data includes prices, trade sizes, timestamps, liquidity pool addresses, end-of-day pool sizes and daily trading volumes.
Uyeda described the initiative as a controlled framework. Limits will apply to both trading symbols and transaction volumes.
The temporary exemption is expected to provide the SEC with additional data on how securities behave when traded through blockchain infrastructure.
That information could eventually help regulators develop more permanent rules for tokenized stocks and onchain securities markets.
Crypto Regulation Continues to Evolve
Today’s developments show how quickly the relationship between cryptocurrency and traditional finance is changing.
US authorities are increasing oversight of digital assets used in international payments. At the same time, regulators are creating new pathways for crypto software providers and experimenting with blockchain-based securities trading.
For the broader crypto market, these regulatory changes could influence how Bitcoin, decentralized finance, tokenized assets and Web3 platforms interact with established financial institutions in the months ahead.
