Iran Turns to Cryptocurrencies Amid Financial Sanctions

The Central Bank of Iran has instructed businesses to repatriate funds using any means necessary, including Bitcoin and Tether. According to the Financial Times, $10 billion in cryptocurrency moved through Iran in 2025, with estimates suggesting that the country accounts for 4.5% of global Bitcoin mining hashrate.

Elliptic's analysis also indicates that Iranian miners use virtual private networks (VPNs) to circumvent IP-based tracking methods, which may result in an undercount of Iran's actual share of global hashrate.

This is not the first time reports have suggested Iran's use of cryptocurrencies to evade sanctions. In April, it was reported that Iran charged cryptocurrencies and stablecoins for safe passage through the Strait of Hormuz, with fees reaching $2 million per vessel in BTC and USDT.