ChainThink report, September 9: According to the Financial Times, Iran is gradually easing foreign exchange controls, tacitly permitting enterprises to use Tether (USDT) and Bitcoin for cross-border transactions to mitigate the economic and financial strain caused by U.S. sanctions and ongoing conflicts.

Insiders indicate that over recent months, the Central Bank of Iran has quietly encouraged businesses to settle cross-border trade via domestic cryptocurrency exchanges, facilitating the repatriation of overseas funds; companies can also convert foreign currency through open markets and directly utilize export revenues for importing goods without fully relying on the official foreign exchange system.

A corporate executive close to the Iranian regime stated that the central bank no longer scrutinizes the method of fund transfers, and using cryptocurrencies to receive export proceeds has become routine. Data shows that approximately $10 billion in cryptocurrency flowed through Iran in 2025.

Blockchain analytics firm Elliptic estimates that Iran accounts for roughly 4.5% of global Bitcoin mining activity.

Additionally, over $100 billion in undeclared overseas and domestic earnings remain unreported within Iran; the country’s supreme audit institution reports that more than 20,000 individuals and enterprises have failed to fulfill their obligations to repatriate around €94 billion in export revenues.

Tether previously froze wallets linked to the Iranian Central Bank totaling approximately $344 million, while the U.S. Department of the Treasury has issued warnings regarding sanctions risks associated with digital asset transactions involving Iran.