New UK rules that took effect July 17 expose crypto businesses to criminal liability of up to 14 years in prison for receiving or retaining value linked to Iran's Islamic Revolutionary Guard Corps. The designation adds section 17C offenses under the National Security Act 2023, requiring firms to track wallet attribution timing and knowledge thresholds. Blockchain settlement before identification creates the main operational challenge for UK-linked exchanges and custodians.

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Iran's Islamic Revolutionary Guard Corps (IRGC) released a new map showing areas of the Strait of Hormuz under their naval control. The announcement comes amid tensions with the US, including a missile strike on an American frigate. IRGC spokesperson stated there is no change in overall strait management.

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