Iran Demands Bitcoin For Ships Passing Hormuz During Ceasefire

Iran intends to impose cryptocurrency-based tolls on oil tankers traversing the Strait of Hormuz during a two-week ceasefire. This decision aims to maintain control and monitor the waterway's traffic, preventing potential arms transfers. The demand comes from the Iranian government, as stated by a spokesperson from the Oil, Gas and Petrochemical Products Exporters' Union. Every oil tanker will be subjected to this new procedure, according to the provided report. Authorities will assess each vessel's cargo before informing them of the toll to be paid. The fee will be equivalent to $1 per barrel of oil transported by each laden tanker. Payments must be made in Bitcoin to avoid potential tracing or sanctions. Empty tankers will be allowed to pass through the strait without incurring any charges. Iran is ready to examine each tanker's cargo. The whole process will take some time.