Bitcoin Instead of Oil: How Crypto Keeps Iranian Business Moving
BeInCrypto
Due to international sanctions and financial isolation, Iran is increasingly utilizing cryptocurrency as a vital tool for domestic and foreign business transactions.Summary
Facing severe economic sanctions and exclusion from global financial systems like SWIFT, Visa, and Mastercard, Iran has turned to cryptocurrency as a primary channel for trade. Expert Ebrahim Mello highlights that digital assets allow Iranian businesses to bypass traditional banking restrictions to move funds internationally. While cheap energy has previously incentivized widespread, sometimes illegal, Bitcoin mining, the author concludes that while crypto facilitates financial movement, it cannot fully replace the legal structures and institutional trust required for sustainable global trade.
(Source：BeInCrypto)