Iran Explores BRICS Backed Crypto Strategy for Trade Under Sanctions

Iran continues to explore digital currencies as a way to keep trade moving while working around long-standing restrictions. The topic took center stage during the deBlock Summit, the country’s first major government-supported blockchain gathering, where officials framed crypto as part of Iran’s plan to stabilize economic activity under renewed international pressure.

Good to Know

• Iranian officials describe crypto as essential for cross-border payments
• The push follows sanctions reinstated by France, the U.K. and Germany
• Local industry leaders say Iran still lacks a clear regulatory structure

Iran Looks to Crypto as a Tool for Trade Under Sanctions

The summit arrived shortly after France, the U.K. and Germany invoked a snapback mechanism in August 2025, which restored global sanctions on Tehran. With those restrictions back in force, Iranian policymakers placed digital currencies at the center of discussions about trade resilience.

Mohammad Bagher Ghalibaf, Speaker of the Iranian Parliament, spoke directly about the role crypto could play in international settlements, noting:

“Independent nations can benefit from these new payment methods.”

According to a report from The Hindu, he went further by saying the use of digital currencies in trade is not up for debate within Iran:

“Settling international transactions in digital currencies isn’t optional for us – it’s required.”

Ghalibaf also said Parliament intends to work with universities, researchers and domestic technology firms to widen blockchain development and encourage foreign investment into Iran’s digital asset sector.

The subject surfaced against a broader geopolitical backdrop. President Trump recently warned BRICS nations that heavy tariffs may follow if they attempt to build an alternative currency network. India responded in August 2025 by saying that abandoning the dollar “is not part of India’s financial agenda.”

While Iranian officials push ahead, industry voices at the conference raised concerns about Iran’s readiness.

Ehsan Mehdizadeh, head of Wallex Iran, criticized the current regulatory approach. He said:

“A country facing sanctions cannot afford to reject innovative financial infrastructure. Yet Iranian regulators still haven’t grasped how blockchain technology functions.”

Mehdizadeh then pointed to Iran’s exclusion from SWIFT as another reason for digital asset use:

“Digital assets offer a pathway around payment system restrictions.”

Iran’s Central Bank remains the main authority over the crypto sector and maintains limits on exchanging Iranian Rial for cryptocurrencies via local platforms. Mining operations have approval to operate, though they face ongoing debates about energy rates. Shamseddin Hosseini, who heads Parliament’s Economic Committee, questioned whether miners should receive subsidized power while households face separate pricing concerns.

FAQ

Why is Iran pushing crypto for international transactions

Officials say digital currencies offer payment channels less affected by sanctions and banking restrictions.

What triggered the renewed discussion about crypto

France, the U.K. and Germany reinstated sanctions on Tehran through a snapback mechanism in August 2025.

Do industry leaders support the government’s approach

They support the idea in principle but argue that Iran lacks clear and transparent rules for crypto activity.

Who oversees Iran’s crypto sector

The Central Bank holds authority and has limited certain crypto-to-Rial conversions.

Is crypto mining allowed in Iran

Yes, but debate continues about energy pricing for miners compared to household users.