Iran is making a strong push to use digital assets to circumvent the sanctions imposed by America and the United Nations, while also calling on BRICS nations — particularly India — to accept cryptocurrency in transactions. After France, Germany, and the UK trigger the snapback mechanism in August 2025, new sanctions will continue to limit Iran, including being cut off from the SWIFT system.
At the deBlock conference supported by the government, Chairman of the National Assembly Mohammed Bagher Ghalibaf praised cryptocurrency as a tool for independent nations and expressed the desire for Iran to become a regional blockchain hub. However, the private sector believes that domestic regulations are unclear. CEO of Wallex, Ehsan Mehdizadeh, stated that Iran finds it difficult to implement the new financial system due to the lack of a complete legal framework. The Central Bank also restricts the conversion of digital assets, causing significant instability in the market.
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