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Iran Expands Use of Digital Currencies to Bypass Sanctions and Move Funds Abroad
Iran is increasingly using digital currencies, especially the USDT stablecoin, to move funds abroad and evade Western sanctions. The Islamic Revolutionary Guard Corps plays a central role in this crypto-based financial system, which is supported by Iran's crypto infrastructure and central bank.
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What happened
- 01Iran uses digital currencies, mainly USDT, to transfer large sums abroad and bypass sanctions.
- 02The Islamic Revolutionary Guard Corps heavily utilizes crypto channels for economic operations.
- 03Iran's crypto infrastructure includes Bitcoin mining and central bank adoption.
- 04International efforts have frozen dozens of IRGC crypto wallets to block these activities.
- 05The U.S. Treasury imposed new sanctions on Iran's shadow banking and crypto trade, including UAE-based shell companies.
In response, the U.S. Treasury recently imposed new sanctions targeting Iran's shadow banking and crypto activities, including entities in the UAE.
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