Iran to Accept Bitcoin, USDT for Strait of Hormuz Tolls, Offers China Discount

Iran has announced it will accept Bitcoin and Tether’s USDT stablecoin as payment for transit tolls through the Strait of Hormuz, one of the world’s busiest shipping corridors, according to Crypto Briefing. The country’s ambassador to China, Abdolreza Rahmani Fazli, revealed the plan on July 4 at the World Peace Forum in Beijing, adding that China and other allied nations would receive discounted rates.

Tehran has designated the strait a matter of “national security” following a four-month conflict involving the United States and Israel, the outlet reported. The move effectively turns a critical global energy chokepoint into a crypto-enabled toll system with geopolitical strings attached.

Tolls of up to $2 million per ship

Iran is reportedly considering fees of up to $2 million per vessel passing through the strait, with Bitcoin and USDT accepted as payment methods, per Crypto Briefing. Allied countries such as China would benefit from reduced rates under what the report describes as a tiered pricing structure.

Tehran is also said to be coordinating with Oman to keep transit operations running smoothly under the new arrangement. Earlier in 2026, Iran allowed selective passage for Chinese vessels through the strait during a period of broader blockades, a sign of the deepening ties between the two governments, according to the report.

Why crypto suits Iran’s sanctions predicament

Iran has spent years operating under heavy US and international sanctions that cut off much of its access to the conventional global banking system. Bitcoin and USDT let Tehran move value without routing transactions through intermediary banks that could freeze or flag them, Crypto Briefing noted.

USDT in particular offers dollar-equivalent settlement without touching US banking rails directly. Iran has also mined Bitcoin domestically for years, drawing on its subsidized energy supply to power mining operations, according to the report.

Market reaction and compliance risk

No significant price movement was reported in Bitcoin or USDT immediately following the announcement, according to Crypto Briefing. Markets appear to be treating the plan as a geopolitical development rather than an immediate trading catalyst.

The bigger question is regulatory. US Treasury officials have been intensifying scrutiny of sanctions evasion carried out through crypto rails, and Tether has previously cooperated with law enforcement to freeze wallets tied to illicit activity. That history could put the stablecoin issuer in a difficult spot if Iranian tolls flow through USDT, caught between compliance obligations and one of its fastest-growing potential use cases.

Read more: Khamenei’s Death Ripples Through Crypto: Nobitex Sanctions, Bitcoin Swings, Hormuz Risk