Iranian companies are tacitly allowed to use USDT and Bitcoin for cross-border transactions

Iran is gradually relaxing foreign exchange controls and allowing companies to use Tether (USDT) and Bitcoin for cross-border transactions. According to informed sources, the Central Bank of Iran has encouraged companies in recent months to repatriate overseas funds through local cryptocurrency exchanges, and companies can also exchange foreign currency in the open market, using export revenue directly for imported goods. An executive close to the Iranian regime stated that the central bank is currently not questioning the methods of fund transfer, and using cryptocurrency to receive export payments has become the norm.

Data shows that approximately $10 billion worth of cryptocurrency will flow through Iran by 2025, and 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 within Iran, with more than 20,000 individuals and companies failing to fulfill their obligation to repatriate approximately €94 billion in export revenue. Tether had previously frozen about $344 million in wallet assets related to the Central Bank of Iran, and the U.S. Treasury has also warned that engaging in digital asset transactions with Iran may face sanction risks.