 | This article may have too many section headers. (November 2024) |
Cryptocurrency in Iran has become a significant part of the nation's financial landscape due to the country's economic struggles, international sanctions, and the potential of digital currencies to circumvent global financial restrictions. Iran's interest in cryptocurrencies intensified in 2017 when international sanctions hampered its access to the global financial system, leading to a growing reliance on Bitcoin and other digital currencies. The Iranian government has taken steps to regulate the cryptocurrency market, including legalizing mining, but the framework remains complex as it seeks to maintain control over digital assets. Iran's cryptocurrency market faces challenges like high energy costs and the involvement of the Islamic Revolutionary Guard Corps in illicit activities, but it continues to evolve, with the government exploring blockchain projects and citizens seeking alternatives to preserve wealth.