Iran leaning on crypto
Iran’s regime and civilians are turning to cryptocurrencies to safeguard assets and — according to analysts — to finance allied militias amid the war, accelerating on‑chain use under sanctions pressure. Experts warn the Revolutionary Guards are using digital currencies as part of funding networks, while ordinary Iranians also adopt crypto to evade financial friction and preserve wealth. (timesofisrael.com) (euronews.com)
Chainalysis says Iran’s on‑chain ecosystem reached about $7.78 billion in 2025 and that addresses linked to the Islamic Revolutionary Guard Corps accounted for roughly half of Iran’s crypto activity in Q4 2025. (chainalysis.com) (chainalysis.com) Blockchain analytics flagged an unusually large outflow of more than $10 million from Iranian exchange platforms between February 28 and March 2, with Chainalysis reporting nearly one‑third of those funds moved onward to foreign exchanges by March 5. (al-monitor.com) (al-monitor.com) The U.S. Treasury and OFAC have previously targeted Iran‑linked crypto networks, including a September 2025 designation of an alleged $600 million shadow crypto banking network tied to oil sales. (chainalysis.com) (chainalysis.com) Last month OFAC added UK‑registered platforms Zedcex and Zedxion to sanctions lists as purported front companies that facilitated stablecoin flows linked to the IRGC, a move US and blockchain investigators say disrupted roughly $1 billion in stablecoin activity. (trmlabs.com) (trmlabs.com) U.S. authorities stepped up scrutiny in early 2026, with the Treasury probing whether crypto exchanges enabled sanctions evasion and blockchain‑forensics firms reporting Treasury interest in peer‑to‑peer volumes and mixer services. (coindesk.com) (coindesk.com) The Financial Times reported that Iran’s Ministry of Defence Export Center, Mindex, has listed payment terms allowing contracts to be settled in “digital currencies,” a step FT says could formalize crypto as a state‑level payment option for arms sales. (coindesk.com) (coindesk.com) Cyber incidents have intersected with this surge: Iran’s largest exchange, Nobitex, was exploited on June 18, 2025, with analytics firms estimating more than $90 million stolen and a pro‑Israel hacking group claiming responsibility. (chainalysis.com) (chainalysis.com)
