Iran Loosens Currency Controls to Enable Crypto Cross-Border Trade

Iran's central bank has introduced new rules allowing businesses to settle international trade in cryptocurrency, marking a significant shift in the country's financial landscape. This move is seen as a response to the sharp depreciation of the Iranian rial, which has lost over 2 million per U.S. dollar on the open market.

The Central Bank of Iran has eased foreign exchange controls, enabling exporters and importers to use Bitcoin and Tether for cross-border payments. This development is expected to give companies more control over their finances, as they can now directly pay for imports without converting currency through the official foreign exchange system.

Iran's pivot towards cryptocurrency didn't happen in a vacuum, it's a direct response to the country's economic crisis. With its significant footprint in global Bitcoin mining (4.5% of total activity), Iran has already seen $10 billion worth of cryptocurrency move through the country in 2025, according to on-chain data.

The U.S. has already frozen between $1 billion and $1.47 billion in Iranian-linked crypto assets, and the Treasury sanctioned Nobitex, Iran's largest crypto exchange, for alleged sanctions evasion in June. This escalation fits inside a wider campaign aimed at isolating Iran's economy on multiple fronts.