Iran Quietly Eases FX Controls, Allows Crypto Use in Foreign Trade

The Central Bank of Iran has quietly relaxed its foreign-exchange restrictions and allowed the use of cryptocurrencies in foreign trade, according to businesspeople, officials, and analysts.

This move comes as a response to increased pressure on the country's financial system due to US sanctions and military conflict. Exporters can now repatriate their overseas revenues through any available means, including using digital assets.

The Central Bank of Iran has stopped asking about the transfer methods used by companies. Receiving cryptocurrency payments for exports has become routine, with over 20,000 individuals and companies able to route part of their cross-border settlements through Iranian crypto platforms.