Iran Establishes Sovereign Toll Regime in Strait of Hormuz Using Cryptocurrency (warontherocks.com)

• Iran's Persian Gulf Strait Authority (PGSA) formalizes a toll system for the Strait of Hormuz, accepting Bitcoin and stablecoins.
• Tolls up to $2M per vessel; U.S. sanctioned PGSA on May 27, 2026.
• System uses cryptocurrency to bypass Western finance, with potential to generate billions and influence global trade patterns.

"On May 18, 2026, Iran formally launched the Persian Gulf Strait Authority (PGSA), a state bureaucracy codifying a toll system for the Strait of Hormuz. Vessels must pay up to $2 million per voyage in Bitcoin or dollar-pegged stablecoins. The U.S. Treasury sanctioned the PGSA on May 27. The regime leverages cryptocurrency to bypass Western financial infrastructure, with implications for global trade and de-dollarization."