Iran eases currency rules to bypass US sanctions with crypto: Report
Iran’s central bank is reportedly relaxing foreign-currency controls to push businesses to repatriate overseas earnings as sanctions tighten. Exporters may now use crypto, including Tether’s USDT and Bitcoin, to settle cross-border trades through Iranian exchanges, and they can also use export proceeds directly for imports without converting them through the state exchange platform at official rates. This comes amid intensified US action against Iran’s crypto network: Treasury sanctioned four Iranian exchanges in June and said it had seized or frozen large amounts of crypto tied to Iran, including over $130 million linked to the central bank. TRM Labs also reported billions in flows between CoinEx and sanctioned Iranian entities over several years, though CoinEx denied any relationship with the Iranian government or sanctioned parties.
