BlockBeats News, April 8th, according to the Financial Times, Iran will require shipping companies to pay a cryptocurrency-based toll fee for oil tankers passing through the Strait of Hormuz during a two-week ceasefire to maintain control of the waterway.

Hamid Hosseini, a spokesman for the Iranian Oil, Gas, and Petrochemical Products Exporters' Union, stated that each tanker must report its cargo information to the Iranian authorities via email, after which Iran will inform them of the toll fee amount to be paid in cryptocurrency. The fee is $1 per barrel of oil, and empty tankers can pass for free. "Once the email arrives and Iran completes the assessment, the vessel will have a few seconds to pay with Bitcoin, ensuring it cannot be traced or confiscated due to sanctions."