Iran Loosens Currency Rules Amid US Crypto Crackdown
The Iranian government has relaxed its foreign-exchange framework to give companies more flexibility in managing their export income. According to a report from the Financial Times, businesses can now use Bitcoin (BTC) and Tether's USDt (USDT) for international payments through domestic crypto exchanges.
Exporters have gained greater control over their earnings outside Iran. Instead of sending proceeds through the state-run exchange system and converting them at government-set rates, companies can directly apply those funds to their import costs.
The move comes as the US targets Iranian activity in the crypto sector. In June, the Treasury sanctioned four Iranian crypto exchanges under its 'Economic Fury' campaign, with Treasury Secretary Scott Bessent stating that the US had gained control of Iranian digital assets valued at approximately $1 billion.