WSJ: Iran uses crypto for Hormuz fees, complicating US sanctions

Iran is using cryptocurrency to collect passage fees from ships traversing the Strait of Hormuz, making it more difficult for the U.S. to block the payments, The Wall Street Journal reported. The report cites TRM, a crypto analytics firm that works with U.S. law enforcement agencies. TRM noted that the speed of digital currency transactions and their circulation outside the U.S. banking system complicate real-time efforts to freeze or block such payments. The firm described this as a significant example of cryptocurrency being used to evade national sanctions.