MILESTONE | Iran’s Move to Charge Strait of Hormuz Crypto Tolls a ‘Significant Milestone’ for State Level Adoption, Says Chainalysis

Iran’s reported move to charge cryptocurrency tolls on ships passing through the Strait of Hormuz marks a major escalation in how states use digital assets to exert economic and geopolitical power, according to blockchain analytics firm Chainalysis.

Tehran, through its Islamic Revolutionary Guard Corps (IRGC), is said to be extracting transit fees from vessels navigating one of the world’s most critical oil chokepoints, which handles roughly 20% of global oil flows.

Under the proposed system, shipping operators must submit detailed vessel and cargo information before negotiating fees, typically starting at around $1 per barrel of oil. Payments are expected to be made in cryptocurrency or Yuan, with bitcoin specifically mentioned as an option, partly due to its resistance to seizure under sanctions.

Chainalysis describes the development as a ‘significant milestone’ for state-level crypto adoption, potentially the first instance of a government demanding digital assets for passage through an international waterway.

However, the firm notes that while bitcoin has been referenced, stablecoins are more likely to dominate in practice due to their price stability and liquidity. This aligns with Iran’s broader crypto strategy where stablecoins are already widely used to facilitate large-scale trade and bypass financial restrictions.

The move underscores how Iran has increasingly integrated crypto into its economic infrastructure, particularly as a workaround for international sanctions. The IRGC alone accounts for a substantial share of the country’s crypto activity, which has reached billions of dollars in recent years.

If fully implemented, the toll system could redefine how nations monetize control over strategic trade routes while also introducing significant compliance risks for global shipping firms, many of which could face sanctions exposure for making such payments.

Beyond the immediate crisis, analysts warn the model could set a precedent for other sanctioned or resource-rich states turning cryptocurrency into a tool not just for finance, but for enforcing sovereignty over global trade corridors.

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