Crypto News: Iran Imposes $1/Barrel Bitcoin Toll on Hormuz Oil Tankers

Key Insights:

• Crypto news: Amid the ceasefire, Iran will impose a 1-bitcoin fee on any oil tankers that pass through the Strait of Hormuz.
• Officials will check ships and demand information about cargo beforehand as additional security measures come into play.
• Cargo alerts and fear have put shipping on hold. 300-400 ships are waiting, and companies such as Maersk are weighing the risks before resuming transit.

During a shaky two-week ceasefire, Iran is shifting towards tighter control of the Strait of Hormuz. The country presented a proposal that would demand oil tankers pay transit fees in Bitcoin alongside a rigorous check, according to today’s crypto news. This development provided the much-needed boost to Bitcoin price.

Crypto News: Iran Accepts BTC Fee for Oil Tankers

Hamid Hosseini is the spokesperson for Iran’s Oil, Gas, and Petrochemical Products Exporters Union. He stated that the authorities are working to closely monitor all vessel movements through the chokepoint. Hosseini added that Iran should watch the inbound and outbound traffic in the Strait. Thus, it can ensure that these two weeks are not spent delivering weapons.

He said that there would be no refusal of ships, but they were to expect delays. “Everything can pass through, but the procedure will take time for each vessel, and Iran is not in a rush,” Hosseini remarked.

With the suggested structure, the shipping operators will be required to provide the cargo information online through email prior to entering the waterway. Iranian officials would then evaluate the information and impose a transit fee, which is said to be $1 per barrel.

Per the crypto news, the payment for oil tankers will be accepted in the form of cryptocurrency. Hosseini explained that the system will avoid risks associated with sanctions, according to the Financial Times. “Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in Bitcoin, ensuring they can’t be traced or confiscated due to sanctions,” he said.

Iran’s Stark Warning Amid Easing Restrictions

The proposal shows that Tehran is trying to retain its bargaining power along one of the world’s most important oil routes. The situation worsened when a warning message was allegedly delivered to the vessels that were sailing in the Gulf.

“If any vessels try to transit without permission, [they] will be destroyed,” the message stated, according to a tape given by shipping sources.

Most operators have stopped using the Strait due to the threat. The majority of companies are not starting transit until they get a clear picture. Crypto news suggests there are fewer vessels (mostly Iran-related) in the passage now.

Such indecision has also made it difficult to engage in diplomatic efforts related to the ceasefire. Hormuz accessibility has become an important point of contention between Iran and its counterparts.

Official statement of Iran Trending in Crypto News | Source: Donald Trump (Truth Social)

US President Donald Trump has associated the extension of the ceasefire with the complete reopening of the way. According to a social media post, he said, “The Islamic Republic of Iran agrees to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz.”

As crypto news on oil tanker fees broke, Iran said any reopening would be accompanied by new security measures. Shipping activity in the area remains severely disrupted. Industry estimates range from 300 to 400 vessels waiting to depart the Gulf.

Ships Remain in Queue, But Crypto Market Rejoices

According to one shipping executive, the situation was likened to a car park, with the jams getting bigger as delays increased. Large players are operating cautiously. Maersk added that it is considering the situation but cautioned that the ceasefire is not yet sufficient to ensure safe transit conditions.

Even if controlled passage is reinstated, analysts anticipate limited throughput. It has been estimated that only 10-15 ships can go through per day at present due to limitations. Prior to the war, the Strait had a capacity of approximately 135 vessels.

After the Iran-related crypto news surfaced, Bitcoin price surged 4%, reaching above the $71,000 level. The overall crypto market also rallied, with the price of Ethereum (ETH) gaining 5% and nearing $2,200.

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