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>>Iran proposes cryptocurrency tolls, requiring oil tankers to pay in Bitcoin for passage through the Strait of Hormuz.

Iran proposes cryptocurrency tolls, requiring oil tankers to pay in Bitcoin for passage through the Strait of Hormuz.

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1 day ago

Ceasefire and Toll Announcement

Following Tuesday’s cease‑fire declaration, Iran said it would levy a crypto toll—primarily Bitcoin—on oil tankers transiting the Strait of Hormuz during the two‑week pause. The move was linked to President Trump’s pledge to suspend strikes if Tehran ensured an “immediate and safe opening” of the strait. Iran’s Supreme National Security Council outlined a 10‑point negotiation framework that includes a new “protocol for secure passage.” This signals Tehran’s intent to keep leverage over the waterway even as talks continue.

Implementation Details

Hamid Hosseini of Iran’s Oil, Gas and Petrochemical Products Exporters’ Union explained that ship operators must email cargo details, after which a Bitcoin fee is calculated and must be paid within seconds. The rapid payment window is designed to prevent tracing or seizure under sanctions. The fee is part of a broader “secure passage” protocol coordinated with Iran’s armed forces. Only a few vessels, mainly those not tied to the US, Israel or Gulf states, have received approval to use restricted routes so far.

Market Impact and Significance

At the time of writing Bitcoin traded around $71,570, up 4.6% in 24 hours, with ETH, XRP and SOL also posting double‑digit gains. Analysts called the policy “the largest real‑world stablecoin use case ever recorded,” highlighting a sovereign shift toward censorship‑resistant assets. The development underscores how states cut off from the dollar system may turn to alternative payment rails to sustain trade and revenue.