Iran is exploring a new path with its BRICS partners, looking to weave crypto into its international trade toolbox as the country searches for alternatives to traditional financial channels squeezed by global sanctions.
Officials outlined this direction during the deBlock Summit, the first major government-supported blockchain gathering in Iran, where policymakers openly described digital assets as an essential tool for keeping the country engaged with global markets.
Their push comes shortly after France, the U.K., and Germany activated the 2025 “snapback mechanism,” reinstating sanctions on Tehran and tightening restrictions on Iran’s ability to move money through conventional banking rails.
Iranian officials view crypto as a lifeline
At the event, Parliament Speaker Mohammad Bagher Ghalibaf said digital assets could open new trade routes and help Iran settle transactions with partners willing to move outside the dollar-dominated system.
“Independent nations can benefit from these new payment methods,”
Ghalibaf said.
He later added,
“Settling international transactions in digital currencies isn’t optional for us, it’s required,”
underscoring how central crypto has become to the country’s long-term economic planning.
Ghalibaf also highlighted Parliament’s push to team up with universities, tech groups, and blockchain researchers, emphasizing Iran’s interest in attracting outside investment into this growing sector.
Meanwhile, geopolitical tensions continue to shape the landscape. President Trump recently warned BRICS nations that pursuing an alternative monetary system could prompt steep tariffs. India quickly distanced itself from the idea in August 2025, noting the dollar
“Is not part of India’s financial agenda.”
Industry voices warn the groundwork is still shaky
Despite the government’s enthusiasm, several industry players took the stage to caution that Iran’s regulatory system still isn’t ready to support meaningful crypto adoption.
Ehsan Mehdizadeh, the head of Wallex Iran, one of the country’s largest exchanges, said the rules remain vague and poorly defined.
“A country facing sanctions cannot afford to reject innovative financial infrastructure. Yet Iranian regulators still haven’t grasped how blockchain technology functions,”
he argued.
Mehdizadeh pointed to Iran’s disconnection from SWIFT as a clear signal that the country needs alternative rails.
“Digital assets offer a pathway around payment system restrictions,”
he noted.
For now, Iran’s Central Bank keeps tight control over anything involving crypto, including limiting the ability to convert Iranian Rial into digital assets through domestic platforms.
Mining, however, remains permitted, though not without tension. Lawmakers such as Shamseddin Hosseini have questioned whether subsidized electricity should continue flowing to mining facilities while households face higher rates.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
