Iran's Hormuz Strait toll booths have been settling payments in Bitcoin since June
2026-09-18 15:02:07
According to CoinMeta, toll booths in the Strait of Hormuz in Iran have started settling payments in Bitcoin since June. This year, Iran has been charging fees to oil tankers passing through the Strait of Hormuz, with amounts ranging from 1 to 2 million US dollars. The US Treasury Department stated that since June, some of these fees have been transferred through a cryptocurrency exchange in Tehran. The Treasury Department's Office of Foreign Assets Control (OFAC) has listed the Bitcoin exchange in Tehran, Bitbank, and its software company, Pishtaz Simorgh, on the sanctions list. Treasury Secretary Scott Bosworth said that today's sanctions against Iran's digital asset infrastructure clearly demonstrate that efforts to finance the Iranian regime using cryptocurrencies are not beyond the scope of US regulation. OFAC accuses Bitbank of transferring hundreds of millions of dollars in Bitcoin to the Islamic Revolutionary Guard of Iran, an organization designated as a terrorist group by the United States.
Source:CoinDesk
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