Iran Eases Currency Controls with Crypto Bypass for US-Sanctioned Businesses

Iran's central bank has relaxed foreign currency controls to encourage businesses to repatriate earnings, allowing them to settle cross-border transactions using cryptocurrency. The new rules permit exporters to use Tether's USDt and Bitcoin to finance imports directly, bypassing the government's exchange platform.

The move is seen as a response to tightening US sanctions, which have targeted Iranian crypto exchanges in recent months. In June, blockchain analytics firm TRM Labs reported $3.8 billion in flows between CoinEx and sanctioned Iranian entities over seven years.

CoinEx denied any commercial relationship with the Iranian government or domestic exchanges and stated it had never provided funding channels to sanctioned parties.