Iran Turns to Cryptocurrencies Amid Global Sanctions

The Iranian economy has been struggling under international sanctions, and as a result, the country is turning to cryptocurrencies like Bitcoin and Tether for financial inclusion.

Iran's access to global finance has been severely restricted since the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) in 2018. Since then, American banks have been hesitant to conduct business with Iranian entities due to concerns about sanctions compliance.

To circumvent these restrictions, Iranians are increasingly turning to cryptocurrencies like Bitcoin and Tether for financial transactions. These digital assets provide a way for individuals and businesses to transfer funds globally without relying on traditional banking systems.