Crypto payments to pass Strait of Hormuz is the next logical step for Iran’s sanctions-skirting trade network

Burns Brief

The Iranian regime has been increasingly using cryptocurrency over the last few years to facilitate cross border oil trading, according to data from Chainalysis Market participants are carefully weighing the implications, with the outcome likely to depend on broader macro conditions and volume. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.