Summary
- Iranian state-linked media reject claims Tehran is already collecting Strait of Hormuz tolls in Bitcoin or stablecoins.
- Maritime security firms warn of parallel scam emails demanding crypto “clearance” fees from stranded vessels.
- The controversy comes after Western media detailed Iranian plans to charge about $1 per barrel for oil transit, potentially worth tens of billions of dollars a year.
Iranian media have dismissed reports that Tehran is currently collecting transit tolls for the Strait of Hormuz in cryptocurrency, underscoring the confusion surrounding a wartime payment regime that has rattled global shipping and crypto markets.
Tehran moves to quash ‘crypto toll’ claims
State-linked outlet Fars News said on Apr. 23 that “reports about Iran collecting tolls for the Strait of Hormuz in cryptocurrency are inaccurate,” countering weeks of speculation that the Islamic Revolutionary Guard Corps (IRGC) had already begun accepting Bitcoin or stablecoins from oil tankers during a fragile US-brokered ceasefire.
The denial follows detailed reporting from the Financial Times that Iran planned to demand that shipping companies pay transit fees in cryptocurrency for oil tankers passing through the narrow waterway, at an indicative rate of about $1 per barrel of crude.
Scam messages and market fallout
Even as Tehran rejects the idea that crypto tolls are already live, a Greek maritime risk firm, MARISKS, warned that unknown actors have been sending fraudulent messages to shipowners stuck west of the Strait, “posing as Iranian authorities” and demanding payment in Bitcoin or Tether in exchange for “clearance” and safe passage.
“These specific messages are a scam,” MARISKS said, stressing the emails “did not originate from Iranian authorities” and may have contributed to at least one vessel coming under fire while attempting to leave the area.
The Strait of Hormuz previously carried about one-fifth of global oil and liquefied natural gas flows, and proposals for a crypto-based toll system have drawn intense scrutiny from regulators and blockchain analysts.
Bloomberg reported that an IRGC-linked intermediary has discussed opening negotiations at roughly $1 per barrel, implying potential revenue of up to $2 million for a fully loaded supertanker and between $70 billion and $80 billion a year if traffic returns near pre-war levels.
Chainalysis noted that Iran has historically relied on dollar-pegged stablecoins such as USDT on Tron, arguing that any implemented Hormuz tolls would deepen Tehran’s pivot toward censorship-resistant rails while posing new compliance risks for virtual asset service providers.
Industry observers say the Fars News denial leaves a narrow distinction: Iran appears keen to formalize tolls and experiment with yuan and crypto settlement, but claims it has not yet begun collecting those fees directly in digital assets, even as scammers and intermediaries race to fill the vacuum.
Be the first to comment