Iran Turns to Tether and Bitcoin as Sanctions Tighten

Highlights:

• Iran is giving businesses more freedom to use Tether and Bitcoin for trade as sanctions tighten.
• Iran’s central bank has eased some currency controls, giving exporters and importers more ways to move money.
• Crypto activity in Iran reached about $10 billion in 2025, but sanctions risk remains.

Iran is allowing businesses to use cryptocurrencies such as Tether (USDT) and Bitcoin (BTC) more widely for international trade. The move comes as sanctions make it harder for Iranian companies to send and receive money through traditional banking channels. The Financial Times reported on September 9 that Iran’s central bank has quietly eased some foreign-currency controls. The changes give exporters and importers more options for moving money across borders. Crypto exchanges are now among the channels being used.

Iran has faced strict limits on international payments for years. Under the previous system, exporters had to bring much of their foreign earnings back into Iran. They were also required to exchange those funds through government-controlled channels. The official exchange rate was often less attractive than the open-market rate. As a result, some exporters chose to keep their money outside the country.

According to the report, Iranian authorities believe more than $100 billion in undeclared export earnings has built up inside and outside Iran.

FT: Using Crypto to Receive Export Payments in Iran Has Become Completely Normalized

According to FT, under pressure from U.S. sanctions and financial blockades, Iran’s central bank has quietly eased foreign exchange controls in recent months, encouraging exporters to repatriate… pic.twitter.com/YyoKdds9km

— Wu Blockchain (@WuBlockchain) September 9, 2026

Iran Gives Traders More Ways to Move Money

The central bank is now taking a more flexible approach. Exporters can use some of their foreign earnings to pay directly for imports. Businesses can also use open-market currency channels instead of depending only on official rates.

Crypto has become part of that system. The FT reported that some businesses are using USDT and Bitcoin for cross-border transactions through Iranian crypto exchanges. One business executive close to the government described receiving crypto for exports as “totally established.”

USDT can be useful for this type of payment because it is a stablecoin. Its value is designed to stay close to the U.S. dollar. Bitcoin can move across borders as well, but its price can change much more quickly. Iran has not announced a formal policy that makes crypto the main payment method for foreign trade. Instead, authorities appear to be giving businesses more freedom to use different channels as sanctions limit access to banks.

Iran’s Crypto Market Remains Active

Crypto already plays a sizeable role in Iran. TRM Labs estimated that Iran recorded around $10 billion in crypto activity during 2025, including both incoming and outgoing transactions. The firm said activity remained strong despite sanctions, tighter enforcement and geopolitical problems.

TRM Labs said:

“The scale and consistency of these volumes point to structural demand, not speculative participation.”

However, using crypto does not remove sanctions risk. U.S. authorities have increased their focus on Iranian digital asset activity. The U.S. Treasury also states that Iranian digital asset exchanges are treated as Iranian financial institutions under U.S. sanctions rules. Their property within U.S. jurisdiction must therefore be blocked.

Iran also has access to Bitcoin through domestic mining. Cheap energy has helped mining develop in the country, giving Iran another source of digital assets. Still, crypto is only one part of Iran’s payment network. Businesses continue to use foreign exchange dealers and other regional channels. For some traders, however, Tether and Bitcoin now provide another way to settle payments when normal banking routes are restricted.