US Declares Itself Guardian of Hormuz Strait, Blocks Crypto Toll Payments

The United States has declared itself the 'Guardian of the Hormuz Strait', imposing a 20% fee on all cargo passing through the waterway. This move comes alongside a pledge to resume blocking Iranian vessels, with US Central Command tasked with enforcement.

The Strait of Hormuz handles roughly 20% of global oil and natural gas trade. The International Maritime Organization and multiple shipping executives have labeled the charge as impractical without formal frameworks.

Brent crude prices exceeded $81 per barrel following the announcement, with traders pricing in the possibility of supply disruptions and a potential doubling of shipping costs for vessels transiting the strait.

The US has dismissed Iran's proposal to conduct toll payments in cryptocurrencies, including Bitcoin and USDT. This move would have given Iran a sanctioned channel to interact with global commerce using digital assets.