Iranian authorities are reportedly considering requiring certain vessels to pay transit fees in Bitcoin to pass through the Strait of Hormuz, according to a report published Wednesday by the Financial Times. The development comes shortly after US President Donald Trump announced a two-week ceasefire between the United States and Iran that included the reopening of the strategically vital waterway. Empty oil tankers would be exempt from the charge, while other ships would face a tariff of $1 per barrel of oil carried.
A spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, Hamid Hosseini, outlined the proposed payment process in comments cited by the Financial Times. He said that once an email confirmation is received and Iran completes its assessment of a vessel, the ship’s operators are given only a few seconds to complete the Bitcoin payment. Hosseini noted the use of cryptocurrency was intended to ensure payments could not be traced or seized under existing sanctions.
Iranian authorities would also use the two-week window to inspect each ship transiting the waterway, verifying that vessels are not carrying weapons. The combination of rapid payment requirements and security checks reflects Iran’s effort to maintain control over the strait even as a temporary truce takes hold. The 10-point plan Iran reportedly delivered to Trump as a condition of the ceasefire included continued Iranian oversight of the waterway and the lifting of sanctions against the country.
Trump announced the ceasefire agreement on his Truth Social platform on Tuesday, stating that the deal involved a suspension of strikes on Iran for two weeks and the full and immediate reopening of the Strait of Hormuz. Many ships had effectively been barred from using the route following US–Israel air strikes on Iranian targets in February and March. The disruption pushed crude oil prices above $100 per barrel for the first time in four years, while cryptocurrency markets also experienced significant volatility, with Bitcoin trading between $65,000 and $75,000.
Iran’s interest in digital assets predates the current crisis. Prior to the escalation of hostilities in February, reports indicated that Iran had been turning to cryptocurrencies as a means of circumventing international sanctions, particularly as the value of its national currency, the rial, declined against the US dollar. Blockchain analytics firm Elliptic reported in January that Iran’s central bank had acquired approximately $500 million worth of Tether‘s USDt stablecoin.
Separate research from TRM Labs tracked roughly $3.7 billion in total cryptocurrency flows linked to Iran between January and July 2025, underscoring the scale at which the country has engaged with digital asset markets. The proposed Bitcoin tariff on Hormuz transit would represent a further institutionalization of crypto use within Iranian economic policy. Analysts and market observers continue to monitor how the ceasefire terms and Iran’s payment framework may evolve over the coming weeks.
Originally reported by CoinTelegraph.
