Approximately $10 Billion in Cryptocurrency Flows Through Iran, Enterprises Implicitly Permitted to Use USDT and Bitcoin for Cross-Border Transactions

Odaily News: Iran is gradually relaxing foreign exchange controls and has implicitly permitted enterprises to use Tether (USDT) and Bitcoin for cross-border transactions. Sources say that in recent months, the Central Bank of Iran has encouraged businesses to repatriate overseas funds through local cryptocurrency exchanges and other channels. Enterprises can also exchange foreign currency on the open market and use export revenues directly for importing goods. A corporate executive close to the Iranian regime stated that the central bank is currently not inquiring about the methods of fund transfers, and it has become the norm to receive export payments in cryptocurrency. Data shows that in 2025, approximately $10 billion worth of cryptocurrency flowed through Iran. Blockchain analytics firm Elliptic estimates that Iran accounts for about 4.5% of global Bitcoin mining activity. Iran still has over $100 billion in undeclared overseas and domestic earnings, with more than 20,000 individuals and enterprises failing to fulfill repatriation obligations for roughly €94 billion in export revenues. Tether previously froze approximately $344 million in wallet assets linked to the Central Bank of Iran. The U.S. Treasury Department has also warned that conducting digital asset transactions with Iran may carry sanctions risks.