Iran is accelerating its efforts to utilize cryptocurrencies for international trade settlements in order to bypass the sanctions imposed by the U.S. and U.N. The strategy was revealed at the deBlock Summit, Iran’s inaugural government-supported international blockchain conference, where officials emphasized the necessity of digital currencies for the country’s economy suffering from sanctions. This initiative comes in response to the re-imposition of international sanctions on Tehran by France, the U.K., and Germany in August 2025.
Mohammad Bagher Ghalibaf, the Speaker of the Iranian Parliament, stated during the deBlock Summit that digital currencies provide new avenues for trade and global payments. Ghalibaf highlighted that ‘independent nations can benefit from these new payment methods.’ Emphasizing the critical role of cryptocurrency adoption for Iran’s economic viability, he expressed, ‘Engaging in international transactions using digital currencies is not a choice for us – it is a necessity.’
Ghalibaf announced the Parliament’s dedication to collaborating with universities, tech companies, and researchers on blockchain projects. He underscored the government’s efforts to attract foreign investments into the digital currency sector. Despite President Trump’s warnings of tariffs on BRICS countries pursuing an alternative currency system, India’s foreign ministry rejected the idea in August 2025, asserting that ‘deviating from the use of the dollar is not part of India’s financial agenda.’
Criticism arose from industry leaders at the summit regarding Iran’s inadequate cryptocurrency regulatory framework. Ehsan Mehdizadeh, CEO of Iran’s top crypto exchange Wallex Iran, noted that the current regulations lack transparency and clarity. During a panel discussion, Mehdizadeh argued, ‘A country under sanctions cannot afford to disregard innovative financial infrastructure. Yet, Iranian regulators have not fully grasped the functionality of blockchain technology.’ He pointed to Iran’s exclusion from SWIFT as a reason for adopting cryptocurrencies, stating, ‘Digital assets offer a way around payment system restrictions.’
The Central Bank of Iran retains exclusive oversight over the cryptocurrency market and has imposed restrictions preventing the conversion of Iranian Rial to cryptocurrencies through local platforms. While crypto mining operations have been approved, ongoing debates concerning energy pricing persist. Shamseddin Hosseini, head of Parliament’s Economic Committee, questioned the subsidies on electricity rates for miners compared to residential users.
Deixe um comentário