Iran Turns to Bitcoin and Tether Amid Global Financial Isolation

Iran’s central bank has instructed businesses to repatriate funds using any available means, including bitcoin (BTC) and tether (USDT), as the country seeks to bypass international sanctions.

Scale of Crypto Activity

Blockchain analytics firms estimate that between $8 billion and $10 billion in cryptocurrency moved through Iran in 2025. The country’s share of global bitcoin mining hash‑rate is reported at roughly 0.12 % by the Cambridge Centre for Alternative Finance, with other estimates placing it between 0.12 % and 0.2 %.

Use in Trade and Shipping

Iran has previously charged cryptocurrency fees for vessels transiting the Strait of Hormuz, with reports of $2 million per ship paid in BTC or USDT. The judiciary estimates undeclared earnings from importers and exporters at about $100 billion, and an Iranian executive confirmed that receiving crypto for exports is now “totally established.”

U.S. Response

The U.S. Treasury has seized roughly $1 billion in crypto assets linked to Iran and launched “Operation Economic Outcast” in August to further isolate Iranian digital‑asset channels.