Iran Turns to Cryptocurrency Under Tightening Sanctions

Iran has relaxed its foreign-exchange controls, allowing businesses to use digital assets like Bitcoin and USDT for cross-border settlements under U.S. sanctions.

The move came as the U.S. authorities continued to target Iran-linked digital-asset infrastructure, with Treasury Secretary Scott Bessent launching Operation Economic Outcast in August to broaden pressure on Tehran's financial connections and foreign economic partners.

Iran's central bank had quietly allowed greater flexibility around export proceeds, giving companies more room to settle transactions through domestic crypto exchanges instead of official currency channels.