Hormuz payments asked in Bitcoin, are being paid in USDT

Although It is unclear who exactly controls the Strait of Hormuz at the moment, what is clear is that the Iranian government demands 2 million dollars per vessel passing through the strait whenever they are in control. Some shipping companies are willing to pay that amount after waiting for six weeks for their cargo to pass.

According to data from crypto payment systems, the toll is primarily paid in USDT, although Iran would have preferred to receive Bitcoin.

Tether

Just as Bitcoin dipped slightly on Sunday now that the Strait of Hormuz is closed again, the first data regarding payments Tehran is receiving from shipping companies was released. This shows that international companies are indeed willing to pay the $2 million toll in crypto, but primarily in USDT and not in Bitcoin.

Naturally, this puts Tether, the issuer of USDT, in a difficult position once again. The large crypto company, which is increasingly buying US stocks to hedge its own assets, is now being used more and more by enemies of America to circumvent state sanctions.

[2026 APR 18] Iran is now accepting Bitcoin for oil tolls in the Strait of Hormuz to bypass financial censorship.

The Bitcoin Policy Institute reports that USDt still dominates these flows. Since 2022, the government has moved $3 billion in crypto, with the US Treasury only able…

— Rin 🚀 | Web3 & Crypto News (@RinOnChain) April 19, 2026

Ever since 2022, Iran has moved approximately 3 billion dollars in cryptocurrency to international bank accounts, the majority of which was moved via stablecoins.

The U.S. Treasury Department was only able to freeze about 600 million dollars of those funds, meaning that some 2.4 billion dollars has been successfully moved.