The Iranian government is tightening measures on cryptocurrencies as the rial depreciates. The Central Bank of Iran has banned rial transactions on crypto exchanges to prevent further currency depreciation.
Economic Instability in Iran
Iran's economy has been troubled by inflation rates over 40% and is not connected to the global payments system. Recently, the Iranian rial fell to an all-time low of over 940,000 per US dollar.
Restrictions on Crypto Operations
In January 2025, the Central Bank of Iran suddenly banned rial payments on all crypto exchanges, leaving over 10 million users without the ability to exchange rials for BTC and other digital assets. The central bank and government have remained silent about the specifics of this decision.
Expectations and Consequences
Despite restrictions, Iranian youth are increasingly looking to cryptocurrencies as a way to earn from the global market. The government's measures are seen as an attempt to maintain strict control over the rapidly growing crypto community.
Overall, Iran maintains a tough stance on cryptocurrencies, aiming to control market conditions and support the national economy amid international sanctions and economic isolation.
