Iran Continues Using Bitcoin To Keep Economy Stable: Report

According to reports cited by Bitcoin Magazine, Iran is continuing to use bitcoin and other cryptocurrencies to settle cross-border transactions through Iranian crypto exchanges. Business and regime insiders have stated that the method is tried and tested, with the country's central bank quietly encouraging traders to get money flowing to support its struggling economy.

Citing the Financial Times, the reports note that the central bank advised countrymen to do anything necessary to help the economy and does not ask questions about how money is transferred. Iran has faced decades of sanctions, which escalated in late 2025 with UN snapback, EU measures, and expanded U.S. energy sanctions, compounded by war with the U.S. and Israel starting in February 2026 and a naval blockade reducing oil exports by more than 80%.

In July, the U.S. Treasury's Office of Foreign Assets Control stated that Iran has been dodging sanctions by accepting bitcoin payments from ships passing through the Strait of Hormuz via a service developed by Iran's Ministry of Economy called Hormuz Safe. While stablecoins like Tether's USDT can be frozen by issuers, bitcoin is decentralized and cannot be frozen.