Iran Eases FX Rules to Allow Crypto Trade Settlement Amid US Sanctions Pressure

Iran's Central Bank has eased foreign-exchange rules to allow the use of cryptocurrencies like Bitcoin and Tether for trade settlement, aiming to bypass U.S. economic sanctions.

The change gives Iranian companies an option to settle cross-border trade payments in Bitcoin or Tether through domestic cryptocurrency exchanges, without going through the traditional finance system.

Exporters can now use foreign-currency earnings directly to pay for imports, rather than selling them on a government foreign-exchange platform at the official rate.

This move comes as the U.S. is stepping up pressure on Iran's crypto financing networks, with four Iranian cryptocurrency exchanges sanctioned in June by the Office of Foreign Assets Control (OFAC).