Iran demands Hormuz oil tanker to pay tolls in Bitcoin

On April 8th, according to the Financial Times, Iran will require shipping companies to pay cryptocurrency based tolls for oil tankers passing through the Strait of Hormuz during a two-week ceasefire period. Hamid Hosseini, spokesperson for the Iranian Oil, Gas, and Petrochemical Products Exporters Alliance, stated that each tanker is required to report cargo information via email, and Iran will inform them of the toll amount to be paid, which is $1 per barrel of oil. Empty tankers can pass through for free, and payment must be made in Bitcoin to avoid sanctions tracking or confiscation.