Chainalysis: Iran using crypto for Hormuz fees would be a state strategy

If Iran begins accepting cryptocurrencies like BTC and stablecoins for passage fees through the Strait of Hormuz, virtual assets will evolve from simple investment assets into a tool of national strategy, according to an assessment by Chainalysis. Maeil Business Newspaper reported that Caitlyn Martin, a senior researcher at the firm, noted this would be the first instance of a state embedding virtual assets into its international trade infrastructure. She also pointed out that stablecoins have become a practical tool for sanctioned countries like Russia, Iran, and North Korea. However, Martin predicted that dollar-backed stablecoins such as Tether (USDT) would be used more frequently than Bitcoin, explaining that price stability is essential for charging passage fees to commercial ships, making Bitcoin's volatility unsuitable for large-scale daily payments.