Iran Pushes Ahead With Crypto Trade Plan to Bypass Sanctions
Iran is moving forward with plans to use cryptocurrencies for international trade, calling it a necessary step as U.S. and U.N. sanctions tighten again.
Officials shared the strategy at the deBlock Summit, Iran’s first government-backed international blockchain event, describing digital currencies as a crucial tool for a country that has been cut off from global payment systems.
Sanctions Return — and Iran Looks to Crypto
France, the U.K., and Germany triggered a “snapback” mechanism in August 2025, restoring major sanctions on Iran.
In response, Iranian leaders say the country must turn to crypto.
Parliament Speaker Mohammad Bagher Ghalibaf told attendees that digital currencies could help Iran conduct global trade without relying on traditional banking channels.
He stressed that for Iran, crypto isn’t a choice — it’s a requirement.
“Settling international transactions in digital currencies isn’t optional for us — it’s required,” he said, as reported by The Hindu.
Ghalibaf added that Parliament plans to work closely with universities, tech companies, and researchers to expand blockchain development and attract foreign investment.
Geopolitical Tensions Add Pressure
The push comes as global leaders react to shifting financial alliances.
President Trump recently threatened steep tariffs on BRICS members if they move toward an alternative currency system.
India has also dismissed the idea of dropping the U.S. dollar, saying it’s “not part of India’s financial agenda.”
Industry Leaders Say Iran’s Crypto Rules Still Have Problems
But while Iranian officials promote crypto, industry experts warn the government’s regulations are unclear and could slow progress.
Ehsan Mehdizadeh, head of Wallex Iran, the country’s largest crypto exchange, said regulators still don’t fully understand how blockchain works.
He argued that Iran—already banned from SWIFT—needs digital assets to get around payment restrictions, but the lack of clear rules is holding the sector back.
Iran’s Central Bank currently has full control over crypto regulation.
It allows mining but restricts converting Iranian Rial to crypto on local platforms, creating more uncertainty for businesses and consumers.
Meanwhile, debates continue over whether crypto miners should receive subsidized electricity while residential users face higher rates.
Shamseddin Hosseini, head of Parliament’s Economic Committee, questioned whether the current energy pricing system is fair.
