IRAN CRYPTO ADOPTION 2025 KEY INSIGHTS
📈 5M+ Iranian crypto traders
💱 Rial hits record low: 1 USD = 1.25M IRR
🏛️ New Digital Economy Act passed
🏦 Central Bank sets up Strategic Council for New Financial Technologies
👩💼 First female deputy governor leads crypto tech oversight
🪙 Rising Tether use concerns regulators
⚠️ Officials warn against over-regulation & underground markets
📉 Sanctions continue to restrict Iran’s crypto inflows
➡ Trendline: Adoption rising, governance tightening, risks increasing
Iran’s political landscape is layered and complex, but when a senior official invokes the authority of Supreme Leader Ayatollah Ali Khamenei, it signals a shift with real economic weight. That is precisely what happened this week at Tehran’s RamzAti cryptocurrency conference the clearest sign yet that digital assets are no longer peripheral to Iran’s financial debate but central to it.
Mohammadreza Poorebrahimi, a prominent University of Tehran professor and head of a key supervisory economic committee, told attendees that Mr. Khamenei’s approval was essential for cryptocurrencies to “enter the country’s economy.”
The statement puzzled many, because crypto has already entered Iran’s economy massively.
Nearly five million Iranians now trade crypto, supported by more than 100 domestic exchanges. Combined with gold, digital assets have become a hedge against the collapsing rial, which hit a record low of 1 USD = 1.25 million IRR as sanctions continue to crush economic stability.
With such rapid adoption, Tehran’s leadership now appears to be racing to catch up.
Russia–Iran Payment System Integration Signals Faster Move Away From the Dollar
Russia and Iran have formally integrated their Mir and Shetab payment systems, allowing both nations to settle cross-border transactions directly in their local currencies and further reducing reliance on the U.S. dollar. This financial alignment comes as Tehran and Moscow deepen economic cooperation amid growing geopolitical pressure. Iranian officials also conveyed a message from the Supreme Leader to President Putin, assuring that bilateral relations will remain stable despite political changes in Tehran a signal that both countries are committed to strengthening their economic and monetary partnership.
Officials Acknowledge Reality: Crypto Can No Longer Be Ignored
The RamzAti event featured some of Iran’s highest-ranking economic officials, including Central Bank Governor Mohammad-Reza Farzin and top parliament members. The tone was unmistakable: crypto is here to stay.
Poorebrahimi recalled that in 2017, Iran’s central bank simply told the public not to use crypto a stance he now calls outdated and ineffective.
Today, lawmakers are taking a more structured approach.
The Parliament recently passed the Development and Overcoming Obstacles Facing the Digital Economy Act, a sweeping law designed to:
- cut red tape for crypto and gold trading platforms
- offer legal protections for compliant exchanges
- prevent monopolistic control in digital markets
At the same time, the Central Bank has created a Strategic Council for New Financial Technologies, which met five times this year alone.
A New Regulatory Face: Iran’s First Female Deputy Governor Leads Crypto Oversight
A major shift in tone comes from Nooshafarin Momen Vaghefi, the Central Bank’s deputy governor for new technologies the first woman to hold the role.
Armed with a PhD from the University of Lyon, she is widely viewed as crypto-friendly.
Speaking at RamzAti, she said the Central Bank has no problem with tokenization and cited the UAE, Japan, Singapore and Malaysia as models for strong crypto governance.
But she drew a firm red line:
➡️ Gold and crypto cannot replace the rial as a primary currency.
She warned that an unregulated surge in stablecoin usage especially Tether could further weaken the rial’s relevance.
Stablecoins Surge And So Do Risks
Stablecoins, particularly USDT, are booming in Iran. For a population dealing with hyperinflation and sanctions, a stable USD-pegged asset is appealing.
But Iranian newspapers recently highlighted losses tied to speculation and exchange mismanagement.
Officials worry that if crypto trading goes underground, it could:
- weaken monetary control
- accelerate capital flight
- make the rial even more vulnerable
Vice-chair of Parliament’s economic committee Mehdi Toghyani stated bluntly:
If crypto moves into the shadows, “the rial will be threatened.”
Tehran Stock Exchange Wants In Too
Even traditional markets are taking notice.
Mahmoud Goudarzi, head of the Tehran Stock Exchange, announced the exchange has been preparing for crypto-based funds and digital asset products for over a year.
“The taste of investors has changed,” he said.
“And the stock exchange must be able to reflect that.”
Too Much Regulation, or Not Enough? A Tightrope Act
While officials push for clearer laws, some speakers at RamzAti warned the opposite:
Over-regulation could be worse than limited regulation.
A patchwork of unclear rules, they argued, could suffocate innovation and drive traders offshore.
Sanctions Still Limit Iran’s Crypto Potential
Despite growing adoption, Iran’s crypto ecosystem remains hindered by geopolitical reality.
Poorebrahimi noted that since the 12-day conflict involving Israel and the US earlier this year, many international platforms have blocked Iranian-linked transactions sharply reducing trade volume.
As long as sanctions remain, Iran’s crypto sector will remain constrained, regardless of domestic enthusiasm.
Conclusion:
Iran is undergoing a genuine shift:
Crypto adoption is exploding, policymakers are scrambling to set rules, and institutions from the Central Bank to the stock exchange are embracing digital assets.
But the path forward is full of contradictions:
- stablecoins help Iranians survive inflation, yet threaten the national currency
- regulation aims to protect users, but too much may crush innovation
- crypto brings economic opportunity, yet sanctions limit its global reach
For now, Iran stands at the crossroads of innovation, necessity, and political control a crypto revolution unfolding in real time.
