Iran turns to crypto for export payments amid sanctions: FT
16 Articles
16 Articles
Iran Turns to Bitcoin and USDT for Trade as U.S. Sanctions Tighten
Iranian businesses are increasingly using Bitcoin and Tether’s USDT to settle cross-border trade as the country loosens foreign-exchange controls and seeks alternative payment routes outside the global banking system. The Central Bank of Iran has quietly allowed exporters to receive cryptocurrency payments and settle transactions through domestic crypto exchanges, according to Iranian businesses, regime insiders… Continue reading Iran Turns to B…
The Iranian Central Bank is reportedly turning a blind eye to exporting companies using cryptocurrencies, including Tether's USDT stablecoin and Bitcoin, for cross-border trade payments. According to a report based on the Financial Times, the Tehran administration has begun supporting alternative payment channels in response to the economic pressure and sanctions imposed by the US during the war. The Iranian Central Bank is also reportedly overs…
Tehran plays a risky card to keep its international trade alive: use cryptos to bypass banks blocked by sanctions. The Iranian Central Bank has loosened the controls on currency exchange, opening the door to Bitcoin and Tether for import-export payments, just as US sanctions crypto Iran are making more [...]
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