Iran Eased Currency Restrictions and Allowed Broader Use of Cryptocurrencies for Trade

Published: September 9, 2026 – 09:24 UTC

Iran has eased currency controls.
The country has begun using cryptocurrencies more actively to bypass sanctions.
Experts noted that $10 billion in cryptocurrency flowed through Iran in 2025.

In recent months, Iranian authorities have eased oversight of foreign-currency transactions and started encouraging businesses to bring funds back into the country, including via cryptocurrencies. This was reported by the Financial Times.

Against the backdrop of the war and a tightening US blockade, local companies are using the Tether (USDT) stablecoin and bitcoin for cross-border settlements via Iranian crypto exchanges, trying to sustain foreign trade and access to imports.

Previously, Iranian exporters were required to repatriate a significant share of their foreign-currency earnings and sell it via a state platform at the official exchange rate, which was often far below the market rate. As a result, companies accumulated funds abroad or brought them back without declaring them.

According to business representatives and analysts, after the outbreak of the war in February, the Central Bank of Iran effectively began allowing a wider range of ways to repatriate funds. In particular, traders can use cryptocurrencies, exchange currency on the open market, and direct export proceeds straight to financing imports without routing them through the official FX system.

“The central bank does not ask how this money was transferred,” said one businessman close to the regime. According to him, using cryptocurrencies to receive payment for exports “has now become fully established.”

The Central Bank of Iran declined to comment on this information.

Cryptocurrencies Become Part of Iran’s Parallel Financial System

For many years, Iran has developed alternative mechanisms for international settlements in an effort to bypass Western sanctions. However, after the US stepped up economic pressure, the need for such tools has grown.

Tether has become a particularly important asset — a stablecoin pegged to the US dollar that enables settlements without direct access to the traditional banking system. According to TRM Labs, nearly $10 billion in cryptocurrency flowed through Iran in 2025.

At the same time, Washington has already warned about the use of digital assets to evade sanctions. The US Department of the Treasury has said that “the Iranian regime is increasingly turning to cryptocurrency as a tool of choice for sanctions evasion.”

In April, Tether froze $344 million worth of cryptocurrency in wallets that US authorities linked to Iran’s central bank.

According to Ethan Danon, strategic adviser for national security at blockchain analytics company Chainalysis, cryptocurrencies stopped being just a speculative asset for Iran a long time ago.

“This is not just a novelty or a hobby. This is a country that has been excluded from global payment systems for quite some time,” he noted.

He emphasized that the rise in cryptocurrency use is a response to “the structural realities of geopolitics.”

Iran also has a domestic source of crypto assets thanks to bitcoin mining. Elliptic estimates that the country accounts for about 4.5% of global production of the first cryptocurrency. The company notes that this allows Iran to bypass trade embargoes and obtain crypto assets worth hundreds of millions of dollars, which can be used to pay for imports and evade sanctions.

US Ramps Up Pressure on Iran’s Cryptocurrency Channels

The easing of currency controls is happening alongside Washington’s intensifying sanctions pressure. In February 2026, Binance came under scrutiny from US lawmakers following reports of possible transfers totaling $1.7 billion linked to Iran. The exchange rejected the allegations and said its compliance system is effective.

In May, an international investigation also drew attention to Iranian crypto exchange Nobitex, which was accused of facilitating the movement of funds in circumvention of sanctions. The platform is linked to an influential Iranian family, and its operations are seen as part of the country’s parallel financial infrastructure.

In July, the US Treasury imposed sanctions on Iranian companies Persian Gulf Marine Insurance Company and Hormuz Safe Marine Services Authority, accusing them of using digital marine insurance paid for in cryptocurrencies to bypass restrictions.

Meanwhile, Tehran is stepping up its crackdown on companies that conceal export revenues. Zabihollah Khodaian, head of Iran’s General Inspection Organization, said that more than 20,000 individuals and legal entities have failed to return about €94 billion.

Separately, cases involving €23.5 billion in funds considered unreturned are being investigated. Iranian judiciary representative Ali Kazemi reported the arrest of 22 people linked to the oil trade, and the issuance of arrest warrants for another 19 individuals.

Meanwhile, Iran’s central bank has loosened oversight of crypto exchanges and “no longer insists” on strict enforcement of its own rules, said Alireza Bozorgmehri, a representative of the Iran Digital Transformation Association. According to him, trading volumes on local crypto platforms have increased, although not yet enough to cover the country’s large-scale financial needs.

The changes also affected exporters: a steel trader working with China noted that he can now direct export revenue directly toward importing the necessary materials.

“Overall, the rules have become softer. Previously, we were required to bring our export revenue back into the country in foreign currency and sell it on a special platform at lower prices, which was absurd,” he said.

Economist Saeed Laylaz believes that further tightening of sanctions will only increase the role of cryptocurrencies:

“The more the economy goes into the shadows, the greater the need to use cryptocurrencies.”

Recall that at the end of August, the US Department of the Treasury also announced Operation “Economic Exile,” aimed at Iran and related organizations. The restrictions affected 60 counterparties and vessels, and Washington separately warned of possible sanctions against foreign entities that continue doing business with Iran, including in the crypto-asset sector.

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Source: Incrypted