Iranian crypto: How sanctions, black markets, and digital wallets are reshaping crypto use in Iran
When the world cuts off access to banks and dollars, people turn to Iranian crypto, the underground use of digital currencies to survive economic isolation. Also known as crypto resistance, it’s not a trend—it’s a survival tactic for millions. Iran doesn’t officially ban cryptocurrency, but it doesn’t protect you either. The government watches, taxes, and sometimes seizes wallets, yet crypto use keeps growing. Why? Because when your bank account freezes and inflation hits 40%, Bitcoin and USDT become the only reliable store of value.
At the heart of this movement are digital wallets, non-custodial apps like Trust Wallet and MetaMask that let Iranians send and hold crypto without banks. These aren’t fancy DeFi tools—they’re lifelines. People use them to receive money from relatives abroad, pay for medicine, or buy food when local currency collapses. Mining is another piece. Iran’s cheap electricity made it one of the top global Bitcoin miners until 2021, when the government cracked down and started seizing rigs. But miners didn’t disappear—they went quieter, hiding hardware in basements and small towns, running rigs on off-grid power.
Then there’s the crypto black market Iran, a network of informal exchanges, Telegram bots, and peer-to-peer traders who move dollars into crypto and back again. You won’t find these on CoinMarketCap. They’re on WhatsApp groups, local bazaars, and encrypted chats. Traders swap Tether for Iranian rials at rates banks would never offer. Some do it to protect savings. Others do it to send money to family in Turkey or Pakistan. The government calls it illegal. The people call it necessary.
This isn’t about speculation. It’s not about flipping memecoins or chasing airdrops. It’s about control. When the state controls your money, crypto gives you back a piece of autonomy. And while other countries debate regulations, Iranians are already living with the consequences—good and bad. Some have lost everything to fake exchanges. Others have built entire livelihoods around crypto remittances. The truth? No ban, no tax, no seizure has stopped it. Not yet.
What you’ll find below are real stories from this underground economy: exchange reviews that expose scams, policy shifts that changed everything, and tools people actually use to stay connected when the system tries to cut them off. This isn’t theory. It’s what’s happening right now, one wallet transfer at a time.
- By Eva van den Bergh
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- 4 Dec 2025
OFAC Sanctions and Iranian Crypto Access to Exchanges: How Restrictions Block and Bypass Digital Asset Flows
OFAC sanctions have blocked Iranian access to major crypto exchanges, but users adapt through peer-to-peer trading, decentralized platforms, and privacy coins. A cat-and-mouse game continues as sanctions evolve and evasion tactics grow more sophisticated.