The Wall Street Journal reported that Iran’s cryptocurrency market has grown to roughly USD 7.8 billion, driven by years of international sanctions and a devalued currency. Chainalysis confirms the scale at roughly USD 7.8 billion, or KRW 11.5 trillion.
Iran’s Islamic Revolutionary Guard Corps is said to have used cryptocurrency to bypass sanctions to obtain weapons and raw materials. Reports also indicate that Tehran is considering crypto-based tolls on oil shipments through the Hormuz Strait to evade international scrutiny. These developments underscore how sanctions and currency depreciation are shaping Iran’s move into cryptocurrency and its potential implications for regional security and trade.
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