Iran has started using cryptocurrency to return export revenue
Iran has eased currency restrictions and allowed exporters to repatriate revenue through informal financial channels, including cryptocurrencies. Tehran is expanding the use of Tether and Bitcoin in foreign trade amid intensifying U.S. sanctions and limited access to the international banking system.
This was reported by the Financial Times, citing market participants and experts.
Iran's Central Bank relaxed existing currency control rules that required exporters to repatriate foreign exchange earnings through official government mechanisms. Now companies have more opportunities to manage currency assets outside the country and use them directly to pay for imports.
One of the alternative settlement methods is cryptocurrencies. According to FT, the USDT stablecoin, which is pegged to the dollar, and Bitcoin are used in cross-border transactions.
This scheme allows exporters to receive funds through Iranian cryptocurrency platforms and use them for settlements with foreign counterparties without routing payments through the traditional international banking system.
Previously, companies had to repatriate currency earnings through official channels and often convert them at a government-set rate, which was less favorable than the free market rate. The relaxation of requirements allows exporters to directly finance imports using earnings received abroad.
The expansion of digital asset use comes amid increasing economic pressure on Iran. The U.S. continues to impose sanctions on Iranian banks, companies, and intermediaries that Washington accuses of facilitating Tehran's foreign trade and evasion of restrictions.
According to estimates cited by the Financial Times, in 2025 the volume of cryptocurrency transactions related to Iran reached approximately $10 billion. Another source of digital assets for the country remains Bitcoin mining, supported by relatively cheap electricity.
At the same time, cryptocurrencies do not make such settlements completely inaccessible to sanctions control. American authorities have already imposed restrictions on cryptocurrency companies and wallets that they say are used by Iranian entities to evade sanctions.
On September 8, the Office of Foreign Assets Control of the U.S. Treasury Department announced a new package of Iran-related sanctions measures. Washington continues to expand restrictions on financial infrastructure and intermediaries that help Tehran maintain access to international payment channels.
Despite the easing of currency controls, Iranian authorities continue to require the repatriation of export revenues into the country's economy. According to FT, authorities are investigating cases of non-return of significant amounts of export earnings by exporters.
According to: Financial Times, U.S. Treasury
