Iran Eases Currency Controls as Cryptocurrency Use Expands Amid US Sanctions Pressure

Iran has relaxed its currency controls and expanded the use of cryptocurrencies for trade, allowing businesses to maintain foreign trade and access imports. The Central Bank of Iran is now accepting a broader set of repatriation schemes, including using cryptocurrencies like Tether (USDT) and Bitcoin for payments abroad through Iranian exchanges.

The easing of currency controls comes amid increased US sanctions pressure, but Tehran is seeking balance by encouraging companies to bring money back in various ways. Since the war began in February, the Central Bank has effectively started accepting a broader set of repatriation schemes, including using cryptocurrencies for cross-border settlements and repatriation of export earnings.

According to TRM Labs, nearly $10 billion in cryptocurrency passed through Iran in 2025. Ethan Danon, a strategic advisor on national security at Chainalysis, noted that cryptocurrencies have long gone beyond speculation in Iran. The internal source of crypto assets for Iran remains Bitcoin mining, which gives the country access to hundreds of millions of dollars in crypto assets that can be directed towards imports and settlements.

Ali Reza Bozorgmehr, a representative of the Iran Digital Transformation Association, stated that the Central Bank has relaxed oversight of cryptocurrency exchanges and no longer insists on strict compliance with its own rules. The turnover on local crypto platforms has increased, although it is still insufficient to meet the country's extensive financial needs.