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Iran wants Bitcoin as payment to guarantee ships safe passage through the Strait of Hormuz – FT

CryptoSlate
Iran is reportedly planning to charge oil tankers a Bitcoin-denominated toll to pass through the Strait of Hormuz to bypass traditional financial sanctions.

Summary

Iran reportedly plans to impose a $1-per-barrel Bitcoin toll on tankers passing through the Strait of Hormuz to bypass international sanctions and circumvent traditional dollar-based clearing systems. While officials claim Bitcoin offers anonymity, experts note the public nature of the blockchain makes transactions traceable. This proposal represents a shift toward using digital assets as a tool for geopolitical leverage and trade infrastructure in one of the world's most critical maritime chokepoints.

(Source:CryptoSlate)