Iran is turning to cryptocurrencies to sustain trade amid a US blockade and tightening sanctions, according to regime insiders and analysts. The central bank has quietly encouraged traders to repatriate funds using digital assets like Tether and bitcoin through Iranian crypto exchanges, relaxing strict foreign currency controls. "The central bank doesn't ask how that money was transferred," said one business executive close to the regime, noting the shift accelerated after the US and Israel launched war in February. "Receiving cryptocurrencies for exports is now totally established." TRM Labs data shows nearly $10bn in crypto moved through Iran in 2025.

The US has blockaded Iranian ports and threatened sanctions on trading partners, including Egyptian and Turkish banks and Iranian aviation entities. The Treasury warned that Iran "increasingly turns to cryptocurrency as a tool of choice for sanctions evasion." Meanwhile, Donald Trump, who has made over $1bn from digital assets, has taken steps to boost the crypto industry since returning to the White House.

Previously, exporters were forced to sell foreign earnings at below-market official rates, leading to an estimated €94bn in undeclared funds, according to Zabihollah Khodaian of Iran's General Inspection Organisation. State firms like the National Iranian Oil Refining and Distribution Company were cited for "chaotic accounts." The new system allows traders to use open-market rates and settle imports directly with export proceeds.