Iran's central bank has quietly eased currency restrictions, allowing the use of cryptocurrencies in foreign trade. According to Financial Times, the regulator now encourages the return of foreign revenue through any available means due to increased pressure from US sanctions and military conflict.
Companies can now exchange currency on the open market instead of using state-mandated rates, pay for imports directly using export earnings, and conduct cross-border settlements via Iranian crypto exchanges. USDT is the primary asset used for these transactions, followed by Bitcoin and other digital assets.
Despite the policy shift, authorities maintain demands for the return of previously accumulated foreign revenue. Investigations are underway for 219 citizens and companies regarding €23.5 billion in unreturned funds, with 22 oil traders detained and warrants issued for another 19.
According to TRM Labs, approximately $10 billion in digital assets passed through Iran-linked addresses and services in 2025, compared to $11.4 billion in 2024. Four major exchanges—Nobitex, Wallex, Bitpin, and Ramzinex—accounted for $7.7 billion, or 78% of Iran's attributed crypto turnover in 2025.
The US Treasury has expanded secondary sanctions risks for the operations of Iran's crypto sector. In June, OFAC sanctioned four major Iranian exchanges. Additionally, Tether blocked $344 million in USDT in April and $131 million in July upon US request, linking these wallets to the Iranian central bank.
