Iran’s stablecoin strategy is getting worldwide attention amid the wider geopolitical turmoil. In this respect, during the airstrikes of February 28, the Central Bank of Iran halted the trading pair $USDT-toman to decrease currency repricing.
This indicates the systemic significance of stablecoins in the country’s economy. Additionally, the Financial Action Task Force (FATF) has revealed that stablecoins occupied up to 84% of Iran’s illegal crypto volumes during 2025.
$10B Crypto-Led Economy of Iran Undergoes Stress-Test Amid War
In the early days of February 2026, the reports disclosed that the crypto transfer volumes of Iran had touched an approximate $8-$10B in 2025. In this respect, the Central Bank of Iran purchased a minimum of $507M in $USDT over 2025. This denotes a refined plan to circumvent the worldwide banking framework.
The market reports point out that a considerable amount of the crypto activity of Iran was associated with the Islamic Revolutionary Guard Corps (IRGC). Specifically, when Iran underwent US-Israeli strikes on February 28 and the worsening conditions in the Middle East, including the Strait of Hormuz, the internet connectivity of the country plunged by ninety-nine percent.
This caused crypto transfer volumes to slump by 80%, and exchanges jumped into defensive mode, halting withdrawals while entering batch processing.
Iran Leverages Stablecoins as Part of Sanction Evasion Strategy
Along with that, the Iranian Central Bank ordered crypto exchanges to stop the $USDT-toman pair. Subsequently, at the time when trading restarted, the dislocated prices and the shrunken order books disclosed a fragile market outlook without its crucial pair. Even then, while common citizens in Iran lost access amid the blackout, regime-related actors may have kept transacting funds quietly.
Recently, FATF issued a report on stablecoins as well as unhosted wallets, referring to the eighty-four percent of illegitimate crypto volumes during 2025 that included stablecoins. The report clearly pointed toward Iranian actors while also urging issuers to rapidly adopt freeze, deny-listing, and burn capabilities.
As a result, this case underscores the paradox the core of stablecoins, as the same dollar-pegged assets that are primary for legitimate payments across borders have become an instrument for the evasion of sanctions.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Iran says the U.S. has agreed to unfreeze about $6 billion in assets, but the U.S. side quickly denies it
An Iranian official source says the U.S. has agreed to unfreeze Iranian assets stored in places such as Qatar, as a gesture of good faith in negotiations, and also notes that the funds involve security in the Strait of Hormuz. However, the U.S. side denies this claim and reiterates that the funds remain restricted and can only be used for humanitarian purposes.
GateNews5h ago
XRP CLARITY Act Vote in Focus as XRP Holds $1.34 and Senate Returns April 13
XRP is trading at $1.34 as traders await the Senate's action on the XRP CLARITY Act, with potential for significant ETF inflows. The Banking Committee's markup is expected in late April, crucial for defining XRP’s regulatory status.
Cryptonews11h ago
Iran’s president: The delegation will head to Pakistan for negotiations, working tirelessly to safeguard the country’s interests.
Gate News message, on April 11, local time on the 11th, Iranian President Pezeshkian posted on social media that the Iranian high-level delegation traveling to Pakistan will do everything to protect the country's interests and will conduct negotiations with a brave attitude. Pezeshkian emphasized that regardless of the outcome of the negotiations, the Iranian government’s work to serve the people will not stop for a moment, and the Iranian government has always stood with the people.
GateNews12h ago
Bitmine Chairman Tom Lee: The market may have already bottomed out; I recommend focusing on the leading assets since the outbreak of hostilities
Bitmine chairman Tom Lee said on the X platform that although there are still doubts in the market, there are signs that the bottom has already formed. He is bullish on Ethereum and related assets and believes crypto is a wartime value-preservation tool. Risk assets may rebound, but it’s important to watch whether the macroeconomic environment and geopolitical situation remain stable.
GateNews12h ago
Trump: If progress in U.S.-Iran talks is not smooth, the U.S. is ready to "restart"
Gate News message: On April 11, U.S. President Donald Trump said in an interview on April 11 local time that he currently does not know the progress of the negotiations between the United States and Iran that day. When asked whether the U.S.-Iran negotiations have officially started, Trump confirmed and said, "Yes." Regarding whether Iran is conducting sincere talks, he said he would provide an answer within a very short time and it would not take long. When asked whether he was optimistic about this, Trump responded that if things do not go smoothly, the United States is ready to "restart." (CCTV News)
GateNews14h ago
The Israel Defense Forces said it carried out attacks on more than 200 Hezbollah targets within Lebanon over the past 24 hours.
The Israel Defense Forces conducted airstrikes in Lebanon, targeting more than 200 locations within the past 24 hours, all of which were associated with the Hezbollah organization. The military continues to strike infrastructure linked to Hezbollah and supports ground forces’ operations to prevent artillery fire attacks on Israel.
GateNews14h ago
