Central Bank of Iran to Block Rial Accounts Linked to Crypto Exchanges

The Central Bank of Iran (CBI) has announced plans to block rial accounts and payment gateways associated with certain cryptocurrency exchanges due to concerns over market manipulation, particularly in Tether (USDT) trading. This action is expected to impact the ability of users to fund their accounts with local currency, as it targets the bank accounts exchanges use to hold customer deposits and the payment systems that facilitate transactions.

This move follows earlier restrictions implemented by the CBI in late September 2026, which limited USDT trading against the Iranian toman. These restrictions capped purchases at 2,000 USDT per user per day on participating exchanges and suspended trading nightly from 21:00 to 09:00 Tehran time. Major domestic exchanges such as Nobitex and Wallex were among those affected, with similar limits introduced by other platforms like Ramzinex and Bitpin.

The significance of USDT in Iran stems from its role as a digital alternative to the US dollar in an economy heavily impacted by US sanctions. Domestic exchanges have become crucial for accessing dollar-pegged tokens. The US has previously imposed sanctions on Iranian exchanges, including Nobitex, in June 2026, and Tether has acted against wallets linked to the CBI, freezing substantial amounts associated with the central bank.

As the CBI tightens access to USDT, exchanges face operational risks that could hinder their ability to convert rials into cryptocurrencies. The dual pressures from both Tether's freezes and local regulatory actions create a challenging environment for traders, who may find themselves caught between the actions of the issuer and the restrictions imposed by the central bank. The situation remains fluid, with key developments to watch including which exchanges are affected and the potential extension of the September trading limits.

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Source: KLEA News