Iran wants tankers passing through the Strait of Hormuz to pay fees. There would be nothing new about it if it weren’t for one piece of information. Everything is going to be done in cryptocurrencies, according to a new report Financial Times.
Iran wants bitcoins
Before transiting the strait, the companies are expected to email Iranian authorities with details about the cargo. Services from Tehran will provide the amount of the crossing fee to be paid in digital currency. The price is expected to be $1 per barrel of oil. This was already known, but now a new topic appears: bitcoin!
Once Iran receives the email and completes its assessment, ships have a few seconds to pay with Bitcoin, ensuring that (BTC) will not be traced or confiscated due to sanctions.
– Hosseini told the daily.
Bloomberg he also pointed out that Iran wants to use the Chinese yuan in the procedure.
Iran has already reached for bitcoin
It is worth adding that Iran has already used stablecoins and bitcoin. A report by the analytical company Elliptic from earlier this year indicated that the US acceptance of stablecoins under the GENIUS Act may be a double-edged sword. As an example, he cited that the Central Bank of Iran raised approximately $507 million in USDT to support the Iranian rial and avoid sanctions. In turn, the Iranians themselves used BTC during the growing tension between Tehran and Washington.
However, if bitcoin were used in the oil trading process, this would be very important information, strengthening the adoption of BTC in the world, it would somehow equate the cryptocurrency with the petrodollar.
