Cryptocurrency Q&A
Can US companies trade with Iran?
Can US companies trade with Iran?
IncheonBeautyBloom
Mon Oct 07 2024
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7
answers
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I don't understand this question. Could you please assist me in answering it?
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7 answers
OceanSoul
Tue Oct 08 2024
The only exceptions to these restrictions are those specifically authorized by the Office of Foreign Assets Control (OFAC) or exempted by statute.
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CryptoNinja
Tue Oct 08 2024
The ITR, or Iran Threat Reduction Act, imposes stringent restrictions on any direct or indirect transactions involving Iran or the Iranian government for U.S. individuals or entities with ties to the United States.
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Dario
Tue Oct 08 2024
However, it's important to note that the ITR does not contain blocking provisions, which typically freeze assets or prohibit transactions with designated individuals or entities.
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JamesBrown
Tue Oct 08 2024
This distinction is crucial as it means that individuals or entities who violate the ITR may face penalties, but their assets are not automatically frozen or blocked.
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Raffaele
Tue Oct 08 2024
These restrictions are designed to curb financial support to Iran and its nuclear program, as well as to limit its ability to engage in terrorist activities.
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