The Iranian regime has been increasingly using cryptocurrency over the last few years to facilitate cross border oil trading, according to data from Chainalysis. Iran recently confirmed bitcoin is being accepted as a payment to pass through the Strait. The Iran-backed Houthi regime, which uses crypto to trade oil, has raised the prospect of imposing a second shipping chokepoint in the Red Sea. If Iran demanded payment in the Trump family-affiliated stablecoin USD1, the President would have a fi…
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