IRAN MOVES FORWARD WITH BILL TO FORMALIZE CONTROL OF THE STRAIT OF HORMUZ + BITCOIN PAYMENTS
An Iranian lawmaker says parliament is preparing to pass legislation formally asserting Iran’s management and sovereignty over the Strait of Hormuz.
The bill would establish a legal framework for toll collection, vessel restrictions, and Iran’s recently launched “Hormuz Safe” platform, which facilitates maritime insurance and related payments using Bitcoin.
Reports indicate Iran is already collecting transit fees through intermediaries, with payments accepted in yuan, stablecoins, and Bitcoin, creating an alternative settlement network outside the traditional dollar system.