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Iran turns to bitcoin for shipping insurance through the Strait of Hormuz
Iranian is turning to bitcoin to insure ships looking for passage through the Strait of Hormuz. As the Iran war drags on toward the end of it third month, Fars News Agency, a Iranian government-affiliated news outlet, reports that the country has launched a shipping insurance service backed by bitcoin for Iranian ship. It cited documents that came from the Iranian Ministry of Economy and Financial Affairs. "Cryptographically verifiable insurance policies will be provided for shipments passing through the Persian Gulf, the Strait of Hormuz, and the surrounding waterways, and payments will be settled in ... (full story)
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