According to Techub News, citing CryptoBriefing, Iran has established a cryptocurrency ecosystem worth approximately $7.8 billion. The system is built around Bitcoin mining, stablecoins and domestic exchanges, forming a parallel financial structure as the country responds to more than 1,000 sanctions imposed by the United States since February 2025.
U.S. Treasury Targets Nobitex
The U.S. Treasury Department imposed sanctions on June 2 against several Iran-related targets, including Nobitex, described in the report as Iran’s largest cryptocurrency exchange. Around $1 billion in Iran-linked cryptocurrency assets has already been seized in connection with these enforcement actions.
Iran has also taken formal steps to expand the role of crypto in its economy. The country legalized crypto imports in 2022 and has proposed collecting Bitcoin transit fees in the Strait of Hormuz. The waterway is used for the transport of about 20% of global oil, according to the same report.