Iran's new Hormuz authority claims oversight of UAE and Oman ports while launching Bitcoin-denominated shipping tolls, drawing a sharp rebuke from the UAE.

Collecting bitcoin for safe passage while also collecting bitcoin for insurance in case the safe passage doesn't work out.

Iran announced a new body to oversee the Strait of Hormuz on Monday, signalling tighter control over the strategic waterway after months of disruption linked to its war with the…