About $10B in Crypto Flows Through Iran as Firms Use USDT and Bitcoin for Cross-Border Trade

Odaily News: Iran is gradually relaxing foreign exchange controls and implicitly allowing companies to use Tether (USDT) and Bitcoin for cross-border transactions. Sources say that in recent months, the Central Bank of Iran has encouraged companies to repatriate overseas funds through local cryptocurrency exchanges and other means. Companies can also exchange foreign currency on the open market and use export revenues directly to import goods. A corporate executive close to the Iranian regime said the central bank is currently not questioning how funds are transferred, and using cryptocurrency to receive export payments has become the norm. Data shows that in 2025, approximately $10 billion in cryptocurrency flowed through Iran. Blockchain analytics firm Elliptic estimates that Iran accounts for about 4.5% of global Bitcoin mining activity. There are still over $100 billion in undeclared overseas and domestic earnings in Iran, and more than 20,000 individuals and companies have failed to fulfill obligations to repatriate approximately 94 billion euros in export revenues. Tether previously froze about $344 million in wallet assets linked to the Central Bank of Iran, and the U.S. Treasury has warned that digital asset transactions with Iran may face sanctions risks.