- Arthur Hayes has questioned the validity of reports claiming Iran is collecting Bitcoin (BTC) tolls from oil tankers.
- He stated that verifiable on-chain transactions are needed to confirm such payments, otherwise it is considered a “troll” by the IRGC.
- Reports suggest Iran is demanding tolls of approximately $1 per barrel of oil, payable in cryptocurrency or Chinese yuan, to bypass international sanctions.
- Despite a recent US-Iran ceasefire, shipping data indicates minimal tanker traffic through the Strait of Hormuz, with hundreds of vessels reportedly waiting.
- While some previous payments may have occurred in stablecoins or yuan, no specific BTC payments linked to vessel tolls have been confirmed on-chain.
BitMEX co-founder Arthur Hayes has publicly challenged reports that Iran is collecting Bitcoin (BTC) tolls from oil tankers transiting the Strait of Hormuz. His skepticism aligns with a broader sentiment within the cryptocurrency community questioning the on-chain substantiation of Tehran’s demands.
Iran’s Crypto Toll Demand Meets Blockchain Skepticism
The dispute originated from reports suggesting that Iran is imposing Bitcoin tolls on oil tankers passing through the Strait of Hormuz. According to Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, laden tankers are required to submit cargo details to Iranian authorities via email. Subsequently, a toll assessment of approximately $1 per barrel of oil on board is issued.
Payments for these tolls are reportedly required in cryptocurrency or Chinese yuan, with Bitcoin explicitly mentioned as an acceptable option. Fully loaded supertankers could face fees of up to $2 million, equivalent to around 281 BTC at recent market valuations. The payment window is allegedly extremely short, designed to obscure funds from traceability or seizure under Western sanctions. Compliance is reportedly enforced by the Islamic Revolutionary Guard Corps (IRGC), with non-compliant vessels risking denial of passage.
“I’ll believe Iran is charging a toll in $BTC when I see a tx linked to a vessel’s toll payment. Otherwise, it’s just the IRGC trolling the western filthy fiat financial system,” Hayes challenged in a post.
Strait Remains Blocked as Doubts Mount
Notwithstanding a two-week US-Iran ceasefire, shipping data reveals a notable lack of tanker activity. Intelligence firm Kpler has indicated that no oil or gas tankers have passed through the Strait of Hormuz since the ceasefire commenced. Reports suggest hundreds of vessels are awaiting passage, and the waterway, which typically handles around 135 ships daily, remains significantly restricted.
The New York Times reported that the Strait of Hormuz remained effectively closed on Wednesday, nearly 24 hours after a ceasefire between the United States and Iran, with no oil or gas tankers passing through the vital waterway. Citing data from ship-tracking firm Kpler, the…
Earlier reports from Bloomberg suggested that some vessels had made payments in yuan or stablecoins like Tether (USDT) for passage escorted by the IRGC prior to the ceasefire. However, no BTC-specific transactions have been verified on the blockchain.
Further skepticism has been voiced by other prominent figures in the crypto space, who suggest that the narrative surrounding these tolls is primarily “geopolitical shitposting,” extending beyond Bitcoin to include any cryptocurrency or the Chinese yuan.
lmao they posted fake news about Bitcoin being taken for Hormuz ships 10mins before the open Then Iran said counter attack+close straight at 930am And then it came out that Hormuz payment can be in any crypto(stablecoin) or CHINESE YUAN LMAOOOOOOOOOOOOOOOOOOOOOooo This casino…
Adding another layer to the situation, a commentary account linked to Mossad claimed that Iran listed the Trump-associated USD1 token as an acceptable payment method, interpreting this as a potential geopolitical maneuver.
🚨 IS IRAN TROLLING TRUMP WITH CRYPTO TOLLS IN HORMUZ? Reports claim Iran is now demanding cryptocurrency payments from oil tankers passing through the Strait of Hormuz. Payable in Bitcoin, USDT… and even the… TRUMP-LINKED USD1 TOKENT‼️
What Comes Next
Initial reports of the tolls led to a roughly 5% surge in BTC prices, suggesting that markets interpreted the news as a bullish adoption signal.
However, the European Union has publicly stated that freedom of navigation must be maintained without any payment or toll.
The #EU says that freedom of navigation in the #StraitofHormuz must be ensured with “no payment or toll whatsoever”, after #Iran suggested it could charge for letting ships through the vital #Gulf waterway.
The emergence of a verifiable on-chain transaction linking BTC to a specific vessel’s toll payment would represent a significant instance of real-world sovereign adoption of Bitcoin for energy-related transactions. Until such definitive proof is presented, Hayes and a substantial portion of the crypto community remain unconvinced.
Original article : beincrypto.com