"Representatives for the Islamic Republic have stated publicly that they plan to have ships in the Strait of Hormuz pay tolls in digital assets. In early April, the parliament released a plan that said as much, according to Iranian state media."
"The comments from Iranian officials come after reports of a more informal system of fees. In early April, Bloomberg said that members of the Islamic Revolutionary Guard Corps were charging oil tankers $1 a barrel to pass through the Strait of Hormuz."
"The crypto analytics firm TRM Labs stated in a Wednesday report that Iran's military has charged ships passing through the strategic chokepoint up to $2 million since mid-March, accepting payment in a variety of fiat and digital currencies: Chinese yuan, Bitcoin, and potentially the stablecoin USDT."
Iran has announced plans to charge tolls for ships passing through the Strait of Hormuz, with payments to be made in cryptocurrency. The Iranian military has reportedly been charging oil tankers fees, with amounts reaching up to $2 million since mid-March. Various currencies, including Bitcoin and stablecoins, are accepted. The tolls have drawn criticism from President Trump, and the volume of ship traffic remains significantly lower than pre-war levels. The exact implementation of these tolls and their impact on trade is still uncertain.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]