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    "date": "2026-04-19T06:37:16",
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    "slug": "iran-views-btc-as-a-strategic-asset-but-usdt-still-dominates-oil-tolls-bpi",
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        "rendered": "Iran views BTC as a strategic asset, but USDt still dominates oil tolls: BPI"
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        "rendered": "<div data-testid=\"html-renderer-container\">\n<p>Iran\u2019s government naming Bitcoin (<a title=\"https:\/\/cointelegraph.com\/price-indexes\/bitcoin\" href=\"https:\/\/cointelegraph.com\/price-indexes\/bitcoin\">BTC<\/a>) as a payment method for oil ships crossing the Strait of Hormuz highlights its role as a neutral, strategic asset, according to Sam Lyman, head of research at digital asset advocacy organization Bitcoin Policy Institute (BPI).\u00a0<\/p>\n<p>The government selected BTC as <a title=\"https:\/\/cointelegraph.com\/news\/iran-crypto-ships-strait-hormuz\" href=\"https:\/\/cointelegraph.com\/news\/iran-crypto-ships-strait-hormuz\" target=\"_self\" rel>one of the payment methods<\/a> for the tolls because of its censorship-resistant qualities, Lyman told Cointelegraph. He said:\u00a0<\/p>\n<blockquote><p>\u201cThis is one of the most significant situations where Bitcoin is very clearly a strategic asset. The reason why Iran wants to use Bitcoin for these transactions is that no one can freeze Bitcoin. No one can shut down the Bitcoin network.\u201d<\/p><\/blockquote>\n<p>Iran is accepting oil tolls in Chinese yuan, US dollar-pegged stablecoins and BTC. However, there is \u201cno onchain evidence\u201d of a BTC toll payment so far, Lyman said, adding that the \u201cmajority\u201d of Iran\u2019s crypto transactions are denominated in US dollar stablecoins.<\/p>\n<figure><img decoding=\"async\" alt=\"Iran, Oil and Gas, Bitcoin Adoption\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-04\/019da1d0-1cc5-79bf-90ca-6c785f7c3e2d.png\"><figcaption><em>Transactions carried out by the Iranian Revolutionary Guard Corps account for nearly half of the total crypto market volume in Iran. Source: <\/em><a title=\"https:\/\/www.btcpolicy.org\/articles\/state-of-play-bitcoin-the-strait-of-hormuz-and-the-war-in-iran\" href=\"https:\/\/www.btcpolicy.org\/articles\/state-of-play-bitcoin-the-strait-of-hormuz-and-the-war-in-iran\" target=\"_blank\" rel=\"nofollow noopener\"><em>BPI<\/em><\/a><\/figcaption><\/figure>\n<p>The announcement from the Iranian government highlights why US lawmakers should recognize and treat <a title=\"https:\/\/cointelegraph.com\/news\/bitcoin-matter-national-security-deputy-cia-director\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-matter-national-security-deputy-cia-director\">Bitcoin as a strategic asset<\/a>, rather than taking a hostile regulatory stance toward it or dismissing digital assets altogether, Lyman told Cointelegraph.<\/p>\n<p><em><strong>Related: <\/strong><\/em><a title=\"https:\/\/cointelegraph.com\/news\/bitcoin-community-iran-crypto-toll-oil\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-community-iran-crypto-toll-oil\"><em><strong>Bitcoin community weighs in on reports of Iran\u2019s crypto toll for oil ships<\/strong><\/em><\/a><\/p>\n<h2>Stablecoin confiscation is just a cost of doing business<\/h2>\n<p>\u201cIran has had a digital asset strategy for several years, going back to about 2018, and the majority of transactions that take place there are with USDt,\u201d (<a title=\"https:\/\/cointelegraph.com\/price-indexes\/tether\" href=\"https:\/\/cointelegraph.com\/price-indexes\/tether\">USDT<\/a>), Lyman said. USDt is a dollar-pegged stablecoin issued by the company Tether.<\/p>\n<p>The Iranian government is using stablecoins, despite the ability of <a title=\"https:\/\/cointelegraph.com\/news\/tether-tron-trm-labs-froze-100-million-usdt-2024\" href=\"https:\/\/cointelegraph.com\/news\/tether-tron-trm-labs-froze-100-million-usdt-2024\">stablecoin issuers to freeze wallets<\/a>, he said. \u201cI think they&#8217;re rolling the dice,\u201d Lyman told Cointelegraph.<\/p>\n<p><iframe width=\"100%\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/ry9MI57Pbjs?start=\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen loading=\"lazy\"><\/iframe><\/p>\n<p>He said that the Iranian government has been able to shift about $3 billion in cryptocurrencies since 2022, with the \u201cmajority\u201d of that value denominated in stablecoins. <\/p>\n<p>However, the US Treasury Department was only able to freeze about $600 million in assets, according to Lyman. <\/p>\n<p>\u201cThey were able to move $3 billion, and only have $600 million frozen. They were still able to move about $2.4 billion. So, I think that&#8217;s why stablecoins are still a go-to for the regime,\u201d he said.<\/p>\n<p><em><strong>Magazine: <\/strong><\/em><a title=\"https:\/\/cointelegraph-magazine.com\/big-questions-can-bitcoin-save-you-from-the-cantillon-effect\/\" href=\"https:\/\/cointelegraph-magazine.com\/big-questions-can-bitcoin-save-you-from-the-cantillon-effect\/\" target=\"_blank\" rel=\"nofollow noopener\"><em><strong>Big Questions: Can Bitcoin save you from the dreaded Cantillon Effect?<\/strong><\/em><\/a><\/p>\n<p><template data-type=\"markets_outlook\" data-name=\"subscription_form\" data-label=\"Subscription Form: Markets Outlook\"><\/template><\/div>\n<p>Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph\u2019s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy <a href=\"http:\/\/cointelegraph.com\/editorial-policy\">https:\/\/cointelegraph.com\/editorial-policy<\/a><\/p>",
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        "rendered": "<p>Iran\u2019s government naming Bitcoin (BTC) as a payment method for oil ships crossing the Strait of Hormuz highlights its role [&hellip;]<\/p>",
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