According to CoinMeta, the Iranian “Persian Gulf Strait Administration” ( pgsa ) posted a message on social media stating that vessels that violate the traffic regulations established for the Strait of Hormuz may face penalties including restricted passage, fines, seizure, or confiscation. pgsa is a newly established institution by Iran to manage this strait. The institution stated that cargo owners should refer to an updated list of non-compliant vessels when navigating in the Persian Gulf.