Iran allows exporters to use USDT and Bitcoin for trade

The Central Bank of Iran has eased foreign currency controls to let exporters repatriate earnings and use USDT or Bitcoin on domestic cryptocurrency exchanges to settle cross-border transactions and finance imports.

Under the revisions announced recently, exporters may bring foreign-currency revenues back to Iran and use those holdings on local crypto platforms to complete cross-border payments. Companies can apply overseas earnings to pay for imports without first converting funds through the government’s official foreign-exchange platform at state-set rates.

The rules permit settlement in stablecoins such as USDT and in Bitcoin on Iranian cryptocurrency exchanges. Officials said the changes aim to encourage firms to return funds earned abroad and add flexibility in trade finance. The Central Bank of Iran did not respond to requests for comment.

The policy change follows a series of U.S. actions targeting Iranian cryptocurrency activity. In early June, the U.S. Treasury sanctioned four Iranian crypto exchanges. U.S. authorities reported seizing about $1 billion in Iranian crypto assets and ordered a freeze of more than $130 million in wallets linked to Iran’s central bank.

Blockchain analytics firms have documented large flows of crypto to Iranian-linked parties. One report estimated more than $3.8 billion in transfers between a named exchange and Iran-linked entities over more than seven years. The exchange denied having a commercial relationship with the Iranian government and said it had not provided funding channels to sanctioned parties.

The easing reduces reliance on the official foreign-exchange platform, where firms previously had to sell foreign currency at state-set rates before using proceeds for imports. By allowing direct settlement on local trading platforms, exporters can use digital assets held onshore to pay suppliers abroad or finance import operations.

Iranian authorities say keeping transactions on domestic exchanges and onshore wallets improves oversight. U.S. enforcement efforts have targeted exchange platforms and wallets linked to Iranian actors to disrupt networks believed to facilitate sanctions evasion. Crypto transfers can move quickly across wallets and platforms, creating enforcement challenges.

Businesses and officials have adjusted practices to maintain access to foreign income and to keep import channels open amid tightened international restrictions.