- The government of Iran has finalized a set of cryptocurrency regulations.
- The use of cryptocurrency to pay for imports is seen as a way to circumvent U.S. sanctions imposed on the Iranian finance and banking sector, allowing Iran to trade with countries similarly embargoed by U.S. sanctions, including Russia.
- In August 2019, the Iranian central bank banned crypto trading inside the country but the government has since allowed the use of cryptocurrencies, like bitcoin, to pay for imports.
Iranian Government Approves ‘Comprehensive and Detailed’ Crypto Regulations
