Galaxy Research Director: Whether Iran uses Bitcoin to collect tolls for passage through the Strait of Hormuz remains controversial.

CoinFeed reported on April 11 that Alex Thorn, head of research at Galaxy, published a lengthy analysis on the X platform, pointing out that reports of Iran demanding ships pay passage fees in the Strait of Hormuz in Bitcoin have not been fully verified. Previously, the Financial Times reported that Iran planned to charge $1 per barrel of oil and require payment in Bitcoin; however, information from various sources differs. Bloomberg suggests the fees may be settled in stablecoins or the yuan, while research firm Citrini Research indicates some ships have completed payments by unfreezing Iranian overseas assets. Blockchain analytics firm TRM Labs also stated that there is currently no evidence that cryptocurrencies are being used on a large scale for such passage fee payments.