Iran Loosens FX Rules, Allows Bitcoin and USDT for Cross-Border Trade Settlement

Iran has moved to relax foreign-exchange controls, enabling companies to settle cross-border trade using digital assets including Bitcoin and the dollar-pegged stablecoin USDT, CoinDesk reported. The shift comes as tighter U.S. sanctions continue to constrain conventional international payment rails, making it harder for Iranian firms to process bank-based payments. According to the report, Iran's central bank has eased parts of its FX regime, allowing exporters to bring foreign earnings back through domestic cryptocurrency exchanges. Businesses can also use export proceeds directly to pay for imported raw materials and goods, bypassing the government-controlled FX system. The changes give importers and exporters more flexibility in deploying funds. For merchants facing limited access to correspondent banking and international networks, crypto-based settlement provides an alternative channel. USDT could see wider uptake as Iran's currency weakens. The report said the Iranian rial has slipped past 2 million rials per U.S. dollar in the open market, while inflation remains elevated. Against that backdrop, traders may find stablecoins more practical for preserving value and for short-term cross-border payments. Bitcoin is also included among eligible settlement assets. Crypto activity linked to Iran remains significant. Roughly $10 billion in crypto assets flowed through the country in 2025, and blockchain analytics firm Elliptic estimates Iran accounts for about 4.5% of global Bitcoin mining. The approach may also draw additional scrutiny. U.S. Treasury Secretary Scott Bessent has warned that digital assets could become a new focus of U.S. pressure on Iran. In June, the U.S. Department of the Treasury sanctioned Nobitex, Iran's largest cryptocurrency exchange, alleging it helped facilitate sanctions evasion. As more Iranian businesses adopt crypto settlement, related exchanges, banks and intermediaries could face rising external compliance and enforcement risk.