Iran is using bitcoin to bypass international sanctions, with its central bank having « quietly encouraged » traders to keep money flowing. The country faces a sharp escalation of sanctions since late 2025, war with the United States and Israel since February 2026, and a naval blockade that has cut oil exports by more than 80 percent. The U.S. Treasury’s OFAC revealed that Iran was collecting bitcoin payments through the « Hormuz Safe » service developed by its Ministry of Economy for ships crossing the Strait of Hormuz. Washington also froze cryptocurrency linked to the Iranian regime in July, mostly Tether’s stablecoin (USDT), which can be frozen by its issuer unlike decentralized bitcoin.
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