The Strait of Hormuz has just become the world’s first maritime toll point to accept cryptocurrencies. According to multiple corroborating sources including Bloomberg, Iran is now imposing passage fees of up to $2 million per crossing on tankers, payable in Chinese yuan or cryptocurrencies — primarily stablecoins.
A Toll System Run by the IRGC
Reports from Bloomberg, Reuters, and several crypto and shipping media outlets indicate the scheme was formally approved by Iran’s National Security Committee on March 30, 2026. Ship owners must now contact an intermediary company linked to the Islamic Revolutionary Guard Corps (IRGC) before any transit.
The intermediary requires extensive data: vessel ownership, flag registry, cargo manifest, destination, crew list, and AIS transponder information. This data is forwarded to the IRGC’s provincial command for vetting — specifically to confirm the vessel has no links to the United States or Israel.
$1 Per Barrel, i.e. $2 Million Per Tanker
Negotiated rates start at $1 per barrel. A standard tanker carrying approximately 2 million barrels thus faces a fee of roughly $2 million for a single transit. Once payment is made, the IRGC issues an authorization code and deploys a patrol boat to escort the vessel through the strait.
15 to 18 Tankers Already Paid in 24 Hours
Estimates from crypto media outlets including Cryptorank and Coin Edition suggest that between 15 and 18 tankers paid the toll within a 24-hour window, generating approximately $36 million in revenue for Iran. Payments were reportedly made in Chinese yuan and stablecoins.
India Protests, the US Stays Silent
New Delhi has publicly challenged the measure, asserting that the right to free navigation through Hormuz is guaranteed under international law. Diplomatic sources indicate India is considering raising the issue in discussions with the Trump administration. The United States has not yet commented officially.
A Verification Gap Remains
Media outlet CoinPaper notes that the crypto payment details and the reported 18-tanker figure « still require broader independent confirmation. » Reuters confirms Iran’s strict control over the strait but does not explicitly corroborate the crypto amounts. The legal basis for the « Iranian tollbooth » and insurance implications also remain gray areas.
Oil Prices Already Under Pressure
The Strait of Hormuz handles approximately 20% of global oil traffic. Adding a $2 million per-vessel toll risks increasing supply costs and compounding existing tensions on oil prices. Insurance premiums for tankers transiting Hormuz have also risen sharply since the start of the Middle East conflict.
Sources
- The Block (paywall, primary source)
- Bitcoin.com
- Yahoo Finance
- CoinPaper
- Cryptorank
- MEXC
- Bitget
- Gate.io
