For Iranian citizens, accessing cryptocurrency exchanges in 2025 isn’t about choice-it’s about navigating a minefield of rules, blackouts, and frozen accounts. What used to be a relatively open space for buying Bitcoin or trading USDT has turned into a tightly controlled system where even logging in at the wrong time can mean losing access. The government hasn’t banned crypto outright, but it’s made using it as a regular person nearly impossible.
Payment Gateways Shut Down, But Mining Still Allowed
In January 2025, the Central Bank of Iran cut off all rial payment channels for cryptocurrency exchanges. That means you can’t buy crypto with Iranian rials through any official bank transfer anymore. No Payamak, no ZarinPal, no bank app. If you want to get crypto, you have to find someone who already has it and trade in person, or use peer-to-peer platforms that operate in the shadows.
Here’s the twist: cryptocurrency mining is still legal-and even encouraged. Iran has one of the largest Bitcoin mining operations in the world, thanks to cheap electricity. The government doesn’t care if you’re using your home computer to mine coins. But if you try to turn those coins into cash, or use them to pay for anything, you’re breaking the rules. It’s a clear signal: we’ll let you produce digital assets, but we won’t let you spend them.
The Nobitex Hack Changed Everything
On June 18, 2025, Nobitex, Iran’s biggest crypto exchange with over 11 million users, was hit by a cyberattack that wiped out more than $90 million. The hackers didn’t just steal money-they exposed how deeply integrated crypto had become in Iran’s informal economy. In response, the government didn’t just tighten security. They imposed a total trading blackout.
From that day forward, all domestic exchanges in Iran were forced to shut down between 8:00 PM and 10:00 AM local time. That’s 14 hours a day when you can’t trade, withdraw, or even check your balance. The official reason? Security. The real reason? Control. The government didn’t want people trading crypto late at night when oversight was low. They wanted every transaction to happen in daylight, under watch.
The result? Panic. Tether (USDT) prices jumped to over 12,000 Iranian tomans-up from around 8,500 just days before. People rushed to buy before the blackout, fearing they’d lose access forever. And for many, they did.
Tether Frozen $60M in Iranian Wallets
Just weeks after the Nobitex hack, Tether-the company behind USDT-did something unprecedented. On July 2, 2025, they froze 42 cryptocurrency addresses linked to Iranian users. Many of those wallets had direct ties to Nobitex. Others had connections to addresses flagged by Israeli intelligence as linked to Iran’s Revolutionary Guard Corps.
This wasn’t just a random freeze. It was a targeted strike. Tether didn’t just block one exchange. They cut off access for hundreds, maybe thousands, of ordinary Iranians who were using USDT to protect their savings from inflation. The Iranian rial lost 60% of its value against the dollar in 2024. For many, USDT was the only way to keep money from evaporating overnight. Now, that lifeline was gone.
Users scrambled. Crypto influencers on Telegram pushed people to swap USDT for DAI, a stablecoin built on the Polygon network. Why Polygon? Because it’s less monitored by U.S.-based blockchain analysts. It’s slower, more complex, and harder to track-but it works. Thousands made the switch. It’s not perfect, but it’s the only option left.
Now, You Pay Taxes on Crypto Profits
In August 2025, Iran passed a new law: the Law on Taxation of Speculation and Profiteering. For the first time, trading crypto became taxable. If you bought Bitcoin at 5 million tomans and sold it for 12 million, you owe the government a cut. Same for gold, real estate, and foreign currency. Crypto is now officially part of Iran’s tax system.
This isn’t about fairness. It’s about control. By taxing crypto, the government admits it’s real-and it wants a share. It also means they now have records of who’s trading, how much, and when. Every exchange that wants to operate must report to tax authorities. That’s a big step toward full surveillance.
U.S. Sanctions Hit Iranian Crypto Networks
September 2025 brought another blow. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned a $600 million shadow banking network tied to Iran’s military. Among the targets: Ethereum and Tron wallets linked to Arash Estaki Alivand, a known financial facilitator. These weren’t random addresses. They were part of a system used to launder oil money through crypto.
The problem? Many Iranian civilians use the same networks. Wallets that look like they belong to a student buying USDT might be flagged because they once received a small transfer from a sanctioned address. Now, exchanges outside Iran are terrified. They block entire IP ranges from Iran. Even if you use a VPN, your transaction might still get flagged.
What’s Life Like for Iranian Crypto Users Today?
Imagine trying to buy groceries with crypto, but you can only trade between 10 a.m. and 8 p.m. And even then, your exchange might crash because 50,000 others are trying to do the same thing. You can’t use your bank card. You can’t send money abroad. You can’t trust USDT anymore. So you switch to DAI, but it takes three extra steps, and you lose 5% in fees each time.
People are still using crypto. Why? Because inflation is crushing them. The rial is worth less than half of what it was two years ago. Salaries don’t keep up. Savings vanish. Crypto isn’t a luxury-it’s survival.
But now, the tools are gone. The exchanges are limited. The stablecoins are frozen. The hours are short. The taxes are real. And every move you make could be tracked.
The Bigger Picture: State Control vs. Citizen Survival
The Iranian government isn’t trying to kill crypto. It’s trying to own it. Mining? Keep going. We’ll use the electricity. Trading? Only when we say so. Payments? Absolutely not. And if you’re caught trying to bypass the rules? You’re not just breaking a law-you’re threatening national security.
Meanwhile, ordinary Iranians are getting smarter. They’re using decentralized tools. They’re moving money through non-custodial wallets. They’re trading in person, in parks, in cafes. They’re learning how to use blockchain explorers to check if their addresses are flagged. They’re sharing tips on encrypted channels. They’re not giving up. They just have to be more careful.
Analysts from Elliptic and TRM Labs say crypto inflows to Iran dropped 11% in the first half of 2025. But that number doesn’t tell the full story. It doesn’t show the underground networks that are growing. It doesn’t show the teenagers trading DAI for cash in Tehran’s bazaars. It doesn’t show the doctors who use crypto to pay for medicines abroad.
Iran’s crypto scene is no longer a market. It’s a resistance movement-with code instead of protest signs.
What’s Next?
Expect more restrictions. More freezes. More blackouts. The government is building a digital firewall around crypto. They’re working with international regulators to cut off access. They’re pushing for global standards that make it harder for Iranians to use crypto at all.
But the demand won’t disappear. Inflation isn’t going away. Sanctions aren’t lifting. People still need a way to save, to send, to survive. So the workarounds will keep evolving-faster, smarter, more hidden.
For now, the message is clear: if you’re an Iranian citizen, crypto is not a tool for freedom. It’s a privilege you can lose at any moment.
Can Iranian citizens still buy cryptocurrency in 2025?
Yes, but it’s extremely difficult. You can’t use banks or official payment gateways. Most people rely on peer-to-peer trading, cash deals, or swapping stablecoins like DAI through decentralized networks like Polygon. Even then, exchanges are restricted to 14 hours a day, and many international platforms block Iranian IPs entirely.
Why was Nobitex shut down?
Nobitex wasn’t shut down completely, but after a $90 million hack in June 2025, the Central Bank of Iran imposed strict trading hours (10 a.m. to 8 p.m.) and increased surveillance. The hack exposed how deeply crypto was tied to Iran’s informal economy, prompting the government to tighten control over all exchange activity.
Are USDT and other stablecoins banned in Iran?
No, stablecoins aren’t officially banned-but Tether froze over $60 million in Iranian-linked addresses in July 2025. That made USDT unreliable. Many users switched to DAI on Polygon, which is harder for U.S. entities to track. But even DAI carries risk, as blockchain analysts now monitor Iranian transaction patterns closely.
Is crypto mining still legal in Iran?
Yes. Mining is not only legal-it’s supported by the government. Iran uses cheap electricity to run large-scale mining operations. The state even provides licenses to mining farms. But the coins mined can’t be sold or traded easily by individuals without risking legal consequences.
Do I have to pay taxes on crypto profits in Iran?
Yes. Since August 2025, Iran has taxed cryptocurrency gains under its new Law on Taxation of Speculation and Profiteering. Profits from crypto trading are treated like gains from gold or real estate. Exchanges must report transactions, and users are required to declare earnings-even if they’re trading on decentralized platforms.
Can Iranians use crypto to send money abroad?
It’s nearly impossible. International sanctions, wallet freezes, and banking restrictions make it risky. Even if you send crypto to a foreign exchange, your transaction may be flagged or blocked. Many Iranians now use intermediaries-friends or relatives abroad-who receive crypto and send traditional money back. But this method is slow, expensive, and carries legal risk.
What’s the safest crypto to use in Iran right now?
DAI on the Polygon network is currently the most widely used alternative to USDT. It’s decentralized, less monitored by U.S.-based firms, and can be swapped without relying on Iranian exchanges. But no crypto is truly safe. Every transaction leaves a trace, and Iranian users are under increasing surveillance from both domestic and international authorities.
Is there any hope for easing restrictions in the future?
Not unless there’s a major shift in Iran’s relationship with the West. As long as sanctions remain, and as long as the government sees crypto as a threat to its control over capital, restrictions will only get tighter. The real question isn’t whether restrictions will lift-it’s how long Iranians can keep adapting before the tools disappear entirely.
