Chainalysis assessed that if Iran starts receiving cryptocurrencies such as BTC and stablecoins as transit fees for the Strait of Hormuz, virtual assets will evolve beyond simple investment assets into national strategic tools. According to Maeil Business Newspaper, Chainalysis Senior Research Analyst Kaitlin Martin pointed out that this case "will be the first instance where virtual assets are embedded in a nation's international trade infrastructure," and that stablecoins have become practical tools for sanctioned countries such as Russia, Iran, and North Korea. However, she predicted that dollar stablecoins like Tether (USDT) would primarily be used rather than Bitcoin, explaining that "price stability is essential for imposing transit fees on commercial vessels, and Bitcoin's volatility is unsuitable for large-scale daily payments."
