Iranian officials are reportedly exploring a plan to levy cryptocurrency fees on vessels transiting the Strait of Hormuz, according to the Financial Times. The report quotes Hamid Hosseini, a spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, saying empty oil tankers would be allowed passage free of charge, while certain ships carrying cargo could face a tariff of about $1 per barrel, payable in Bitcoin (BTC).
Hosseini told the FT that Iranian authorities would screen each vessel during a proposed two-week window to ensure it was not transporting weapons. After assessment, operators would reportedly receive an email and be given only a short time to remit the Bitcoin fee, a process the spokesperson said would limit the risk of funds being traced or seized under sanctions.
The report comes hours after U.S. President Donald Trump said the U.S. and Iran had agreed to a two-week ceasefire that would include reopening the Strait of Hormuz. Trump wrote on his Truth Social platform that the pause would suspend attacks on Iran and enable the “complete, immediate, and safe opening” of the waterway. Iranian state media said Tehran presented a 10-point plan to the U.S., which reportedly included keeping Iranian control of the strait and lifting relevant sanctions.
Ship movements through the strait have been disrupted since U.S.-Israel strikes on Iranian targets earlier this year, and those tensions contributed to a spike in oil prices, with crude briefly trading above $100 per barrel. Crypto markets were volatile in the same period, with Bitcoin moving roughly between $65,000 and $75,000.
Separately, analysts have noted Iran’s growing use of digital assets to mitigate sanctions pressure. Blockchain intelligence firms have reported significant holdings and flows: Elliptic said Iran’s central bank acquired roughly $500 million in USDT stablecoins, and TRM Labs recorded about $3.7 billion in crypto flows to and from Iran between January and July 2025.
The proposal remains a report at this stage and has not been confirmed as policy; media coverage urges independent verification of developments as they unfold.