Iran's Crypto Toll System at Strait of Hormuz Now Live

The Strait of Hormuz toll system in Iran has been operational since mid-March, allowing fees to be paid in Bitcoin, Chinese yuan, or USDT. The system was formally approved as part of the 'Strait of Hormuz Management Plan' in March 2026. This move is a strategic effort by Iran to protect transactions from U.S. sanctions.

The market has reacted to this development, with low confidence in immediate fee collection reflected in the pricing for the July 15 deadline, which stands at 4.6% YES probability. However, higher probabilities are seen for August 31 and October 31, indicating that participants expect the toll system to be active by those dates.

Observers should monitor official announcements from the Iranian government or the IRGC regarding the toll system's status, as well as statements from key geopolitical actors such as the U.S. Secretary of State or the Gulf Cooperation Council.