Iran Starts Bitcoin-Backed Ship Insurance for Hormuz Strait

(Bloomberg) -- Iran has started a Bitcoin-backed insurance service for Iranian shipping companies that want to transit the Strait of Hormuz, the semi-official Fars news agency reported, citing documents obtained from the country’s Ministry of Economy and Financial Affairs. Most Read from BloombergStocks Fall, Oil Rises on Doubts Over US-Iran Deal: Markets WrapUS and Iran Far From Deal as Bond Rout Piles Pressure on TrumpBillionaire Rinehart Bets $100 Million on US Defense StocksWinners and Loser