The Islamic Revolutionary Guard Corps Navy announced the closure of the Strait of Hormuz on July 11, 2026, after firing a warning shot at a commercial vessel that allegedly failed to follow prescribed shipping routes. The narrow waterway, which typically handles 20-25% of global oil shipments, is now effectively shut to maritime traffic until further notice.

If you’re wondering why a naval incident in the Persian Gulf matters to crypto, here’s the thing: Iran has been quietly accepting Bitcoin and stablecoin payments for transit tolls through the strait since mid-March, running the operation through a platform called “Hormuz Safe.” When a nation under heavy sanctions builds crypto payment rails into one of…