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
Solana Meme Coin Platform Bonk.fun Official Website Hacked, Users' Funds Stolen After Signing Malicious Terms
A security incident occurred on the Bonk.fun platform, where an attacker gained control of the domain and injected malicious content, resulting in some users' funds being stolen. The team has issued a warning, suspended operations, and taken measures to restore security. The attack mainly affected users who signed false agreements. As cyberattack techniques advance, the encryption industry faces greater risks.
GateNews2h ago
A certain CEX was exposed for lobbying against the small-scale Bitcoin tax exemption policy, advocating that it should only apply to stablecoins.
A certain cryptocurrency trading platform is accused of lobbying U.S. legislators to oppose the Bitcoin small-transaction tax exemption, suggesting it should be limited to stablecoins. This move has raised concerns within the crypto community, which believes that the policy could be influenced by special interests and hinder innovation. The Bitcoin advocacy organization warns that this approach would be a strategic mistake.
GateNews2h ago
MICA Daily｜Exchange liquidity dries up, BTC trend continues to weaken
The latest US CPI data released aligns with market expectations, but due to the impact of the Middle East situation, market reactions are muted. The US stock indices fluctuate, and BTC prices hover around $70,000. Although it appears stable in the short term, market sentiment remains pessimistic, and whether the price can stay above $70,000 in the future remains uncertain, mainly depending on the development of the Middle East situation. Meanwhile, Binance's net flow data shows that investors withdraw BTC during market downturns, but selling pressure still exists.
区块客2h ago
BONK.fun has been hacked! Wallet stealer launched, user funds are directly at risk
Solana meme coin platform BONK.fun was hacked, with internal team accounts compromised, leading to the deployment of a wallet theft program. Users are advised to stop interacting immediately. This incident highlights the platform's security vulnerabilities and may accelerate user attrition, with market share dropping from 84% to 7%. Future security measures need to be strengthened to prevent similar attacks.
MarketWhisper2h ago
Oman withdraws ships to avoid risk, oil prices break above $100, Bitcoin drops back to 69K
The Middle East geopolitical conflicts have intensified, leading to challenges in the international energy market. Oman has evacuated oil tankers to ensure safety, causing oil prices to surge to $100 per barrel. Asian stock markets generally declined, and Bitcoin also retreated to $69,550. Although the IEA released oil reserves, it is difficult to fundamentally resolve the supply gap issue.
ChainNewsAbmedia3h ago
JPMorgan: High oil prices may prompt some Asian central banks to adopt hawkish monetary policies
JPMorgan economists have pointed out that persistently high oil prices could prompt some Asian central banks to adopt hawkish policies, especially Singapore and Malaysia, while the likelihood of Indonesia and the Philippines cutting interest rates decreases. Fiscal policy will become the first line of defense against trade shocks, and the Bank of Korea's decision to raise interest rates will depend on the impact of oil prices on inflation.
GateNews3h ago
