Iran Eyes Bitcoin for Oil Payments, Bypassing U.S. Sanctions
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Irans Bitcoin Payment Plan for Oil Tankers: A New Era of Global Trade?
The Financial Times reveals Irans plan to use Bitcoin for oil tanker payments, potentially bypassing U.S. sanctions. Tolls could range from $200,000 to $2 million per ship. However, experts like Alex Thorn from Galaxy Research suggest stablecoins or Chinese yuan as more probable options. Bitcoin enthusiasts argue its decentralized nature makes it ideal for such transactions. The plan may involve Bitcoins Lightning Network for swift payments, but the largest Lightning transaction so far was only $1 million. This development could establish Bitcoin as a global trade tool for evading restrictions.
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