Iran has announced that it will require oil tankers passing through the Strait of Hormuz to pay tolls in cryptocurrency, specifically bitcoin, during a two-week ceasefire. Hamid Hosseini, spokesperson for Iran’s Oil, Gas, and Petrochemical Products Exporters’ Union, stated that the toll will be set at $1 per barrel of oil. Each tanker must email Iranian authorities about its cargo, after which the toll amount will be communicated. Hosseini emphasized that this measure allows Iran to monitor the passage of vessels to prevent the transfer of weapons during the ceasefire. While the process may take time for each vessel, empty tankers will be allowed to pass without tolls. The decision to enforce these tolls is made by Iran’s Supreme National Security Council, raising concerns about whether Western or Gulf state-linked vessels will risk transit through the strait.