BlockBeats report, on September 9, according to the Financial Times, Iran is gradually easing its strict foreign exchange controls and tacitly permitting businesses to use cryptocurrencies, particularly Tether (USDT) and Bitcoin, for cross-border transactions to mitigate the economic and financial impacts of U.S. sanctions and war.
According to insiders, Iran’s central bank has quietly encouraged businesses over the past few months to repatriate overseas funds through various means, including using local cryptocurrency exchanges to settle cross-border trade. Meanwhile, companies can exchange foreign currency on the open market and directly use export earnings to import goods, without needing to go entirely through the official foreign exchange system.
A corporate executive close to the Iranian regime said that the central bank is currently not inquiring about how funds are transferred, stating that "accepting export payments in cryptocurrency has become completely commonplace."
Data shows that approximately $10 billion worth of cryptocurrency flowed through Iran in 2025. Blockchain analysis firm Elliptic also estimates that Iran accounts for about 4.5% of global Bitcoin mining activity, using low-cost energy to acquire cryptocurrency assets that can be used for importing goods and evading trade restrictions.
Meanwhile, over $100 billion in unreported overseas and domestic earnings remain in Iran. Iran’s top audit body previously stated that more than 20,000 individuals and businesses failed to repatriate approximately €94 billion in export revenues.
The Financial Times reports that as the United States further tightens its blockade on Iran’s financial channels, cryptocurrencies are becoming an important tool for Iran to sustain cross-border trade and access external funds. However, Iranian industry insiders believe that the volume of cryptocurrency transactions remains insufficient to meet the country’s vast economic needs.
Tether previously froze approximately $344 million in wallet assets linked to the Central Bank of Iran, and the U.S. Department of the Treasury has warned that engaging in digital asset transactions with Iran may carry sanctions risk.