Iran

Retail_Trading_Status

Allowed-Regulated Unknown

Analysis ID: #63
Version: Archived
Created: 2025-04-12 06:42
Run: d0788a3e...
History: View all versions
Workflow Stage: Live

Executive Summary

Retail cryptocurrency trading in Iran is Allowed-Regulated, subject to strict control by the Central Bank of Iran (CBI). The CBI's "Policy and Regulatory Framework for Cryptocurrencies" mandates licensing for exchanges and custodians, emphasizing AML/CFT compliance and tax obligations. Fiat currency access is heavily monitored through a government-controlled API. While holding and trading are permitted on licensed platforms, domestic payments using cryptocurrency remain banned, pushing some users to utilize workarounds to access foreign exchanges.

Key Pillars

The primary regulator is the Central Bank of Iran (CBI), which oversees the cryptocurrency market and enforces the "Policy and Regulatory Framework for Cryptocurrencies." Core compliance requirements include strict KYC/AML procedures and tax obligations for licensed entities. Licensing is mandatory for cryptocurrency exchanges, brokers, and custodians to operate legally.

Landmark Laws

Policy and Regulatory Framework for Cryptocurrencies (CBI, December 2024): Mandates licensing for crypto exchanges and custodians, emphasizing AML/CFT regulations and tax obligations under CBI supervision. Bans financial institutions from handling cryptocurrencies (CBI, 2018): Prohibits financial institutions from engaging with cryptocurrencies due to AML/CFT concerns.

Considerations

Cryptocurrencies are treated as assets, and access to fiat currency (Rial) on/off ramps is tightly controlled by the CBI. KYC/AML compliance is a central pillar of the regulatory framework. There are concerns about capital flight, money laundering, and tax evasion. Operational challenges include restrictions on Rial transactions and the need for exchanges to use CBI-approved accounts.

Notes

In 2018, the CBI initially banned financial institutions from handling cryptocurrencies. In 2019, crypto mining was recognized as an industry. The new regulatory framework gives the CBI extensive access to user data. Some Iranians use VPNs and fake IDs to access international exchanges. Advertising related to crypto mining is banned due to energy concerns. The CBI controls fiat-to-crypto transactions through a government-controlled API. The source link URLs provided may differ slightly from the actual URLs.

Detailed Explanation

The retail cryptocurrency trading status in Iran is Allowed-Regulated. While not explicitly prohibited, the environment has become increasingly controlled and regulated, especially in late 2024 and early 2025. Historically, in 2018, the Central Bank of Iran (CBI) banned financial institutions from handling cryptocurrencies due to AML/CFT concerns. However, in 2019, Iran recognized crypto mining as an industry and later permitted legally mined cryptocurrencies to be used for import payments to bypass sanctions. Individual holding and trading persisted, with domestic exchanges emerging. A significant shift occurred in December 2024 when the CBI approved a comprehensive "Policy and Regulatory Framework for Cryptocurrencies", establishing the CBI as the primary regulatory authority. The framework aims to increase transparency, prevent illicit activities, control capital flight, and leverage crypto for the national economy. Cryptocurrency exchanges, brokers, and custodians must obtain licenses from the CBI and comply with AML/CFT regulations and tax obligations. The CBI requires extensive access to user data and transaction records. Access to fiat on/off ramps has been controlled, with the CBI restricting Rial payment gateways for crypto exchanges in late 2024, but resuming them in January 2025 through a government-controlled API. Exchanges must use CBI-approved accounts for Rial transactions. KYC/AML compliance is a central pillar, with intensified requirements. Allowed activities include holding cryptocurrencies, trading on licensed domestic platforms, mining with a government license, and using crypto for import payments. Restricted activities include converting Rial to/from crypto (only via state-supervised channels) and prohibited activities include using cryptocurrency for domestic payments and unlicensed crypto operations. Some Iranians reportedly use VPNs and fake IDs to access international exchanges due to sanctions. President Masoud Pezeshkian stated the CBI is the sole authority responsible for regulating the cryptocurrency market, including licensing and oversight. Minister of Economic Affairs and Finance Abdolnaser Hemmati announced the government intends to regulate, not limit, digital currencies. The CBI's proposed measures include top levels of access to customer information and the ability to block users as deemed necessary.

Summary Points

Okay, here's the converted report in a clear, bullet-point format:

Retail Trading Status of Cryptocurrencies in Iran: Regulatory Analysis (April 12, 2025)

I. Overall Regulatory Status:

Allowed-Regulated: Retail cryptocurrency trading (buying, selling, holding) is permitted for individuals but under strict state control and regulation.

II. Key Regulatory Bodies and Their Roles:

Central Bank of Iran (CBI):
- Sole regulatory authority for the cryptocurrency market ("ramzpol" or "ramzarz").
- Responsible for licensing, oversight, and regulatory frameworks.
- Mandates compliance with AML/CFT regulations and tax obligations.
- Requires extensive access to user data and transaction records from licensed platforms.

III. Important Legislation and Regulations:

"Policy and Regulatory Framework for Cryptocurrencies" (Approved December 2024):
- Comprehensive framework establishing the CBI as the primary regulator.
- Focuses on transparency, preventing illicit activities, controlling capital flight, and leveraging crypto for the national economy under state supervision.

IV. Requirements for Compliance:

Licensing:
- Cryptocurrency exchanges, brokers, and custodians must obtain licenses from the CBI.
KYC/AML:
- Strict Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance are mandatory.
- Intensified data access for the regulator, including real-time access and the ability to block users.
Fiat Currency (Rial) Transactions:
- Rial-to-crypto and crypto-to-Rial conversions are permitted only through state-supervised channels on licensed platforms.
- Exchanges must use designated, CBI-approved accounts for Rial transactions.
- Transactions are monitored and controlled by the state via a government-controlled API.

V. Notable Restrictions and Limitations:

Domestic Payments:
- Using cryptocurrency for domestic payments is banned.
Unlicensed Operations:
- Unlicensed cryptocurrency operations are prohibited.
Advertising:
- Advertising related to crypto mining is banned (due to energy concerns).
Access to Global Exchanges:
- While not directly regulated, Iranian users face restrictions on international exchanges due to sanctions, leading some to use VPNs and fake IDs.

VI. Recent Developments and Changes (Late 2024 - Early 2025):

CBI as Sole Regulator: CBI officially designated as the sole authority responsible for regulating the cryptocurrency market.
Regulatory Framework Implementation: The "Policy and Regulatory Framework for Cryptocurrencies" was approved and is being implemented.
Fiat Access Control:
- Initial restrictions on Rial payment gateways for crypto exchanges via the Shaparak network to curb capital flight.
- Resumption of fiat-to-crypto transactions through a government-controlled API, ensuring direct state supervision.
Increased State Supervision: Overall trend towards increased state control and monitoring of cryptocurrency activities.

Full Analysis Report

Okay, here is the comprehensive report on the Retail Trading Status of cryptocurrencies in Iran, prepared with the perspective of a specialized financial regulatory analyst.

Report Date: April 12, 2025

Topic: Retail_Trading_Status (Iran)

1. Current Status: Allowed-Regulated

2. Detailed Narrative Explanation:

The status of retail cryptocurrency trading (buying, selling, holding) for individual citizens and residents in Iran is best described as Allowed-Regulated. While not explicitly prohibited for individuals as an asset class, the environment has shifted significantly towards stringent state control and regulation, particularly since late 2024 and early 2025.

Historical Context: Iran's relationship with cryptocurrency has evolved. Initially, in 2018, the Central Bank of Iran (CBI) banned financial institutions from handling cryptocurrencies due to AML/CFT concerns [3, 6]. However, facing severe economic pressure from international sanctions and high inflation, the government recognized crypto mining as an industry in 2019 [6, 7, 16] and later allowed legally mined cryptocurrencies to be used by businesses for import payments to bypass sanctions [15, 17, 20]. Throughout this period, individual holding and trading persisted, often in a grey area, with domestic exchanges emerging to serve local demand [14]. Using crypto for domestic payments remained prohibited [6, 15].
Recent Regulatory Overhaul (Late 2024 - Early 2025): A major shift occurred with the CBI approving a comprehensive "Policy and Regulatory Framework for Cryptocurrencies" in December 2024 [5, 10, 12]. This move firmly established the CBI as the sole regulatory authority for the crypto market (referred to locally as 'ramzpol' or 'ramzarz') [2, 11]. The framework's stated goals include bringing transparency, preventing illicit activities like money laundering and tax evasion, controlling capital flight, and potentially leveraging crypto for the national economy under state supervision [2, 10, 12].
Licensing and Supervision: The new regulations mandate that cryptocurrency exchanges, brokers, and custodians obtain licenses from the CBI to operate legally [2, 10, 12]. Licensed entities are subject to strict CBI oversight, including compliance with AML/CFT regulations and tax obligations [10, 12]. The CBI requires extensive access to user data and transaction records from these platforms [2, 5, 11].
Fiat Currency (Rial) Access: Access to fiat on/off ramps has been a point of friction and control. In late 2024, amid sharp depreciation of the Iranian Rial, the CBI restricted or blocked Rial payment gateways for crypto exchanges via the Shaparak network to curb capital flight and speculation [2, 5, 7, 11]. This caused significant disruption for users [5, 11]. However, starting January 2025, reports indicate the CBI began allowing the resumption of fiat-to-crypto transactions, but crucially, through a government-controlled API, ensuring direct state supervision over these flows [2, 7]. Exchanges must use designated, CBI-approved accounts for Rial transactions [2]. This indicates that while Rial conversions are permitted, they are tightly monitored and controlled by the state.
KYC/AML Requirements: Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance are central pillars of the new regulatory framework [10, 12]. Iranian law generally mandates KYC/CDD for financial activities [18]. Major Iranian exchanges like Nobitex already implemented relatively robust KYC procedures compared to some global counterparts, often requiring document verification [13]. The new framework intensifies these requirements, demanding high levels of data access for the regulator [11]. Despite this, some Iranians reportedly use methods like VPNs and fake IDs to access international exchanges that prohibit Iranian users due to sanctions [5, 13].
Permitted vs. Prohibited Activities:
- Allowed/Regulated: Holding cryptocurrencies as assets, trading on licensed domestic platforms, mining with a government license [6, 16], use by businesses for import payments [17].
- Restricted/Controlled: Converting Rial to/from crypto (allowed only via state-supervised channels on licensed platforms) [2, 7, 11].
- Banned: Using cryptocurrency for domestic payments [6, 15], unlicensed crypto operations, advertising related to crypto mining (due to energy concerns) [16].

In summary, Iranian citizens can legally buy, sell, and hold cryptocurrencies, but only through channels and platforms operating under the increasingly strict regulatory and supervisory regime established by the Central Bank of Iran. The environment is characterized by mandatory licensing, strong KYC/AML enforcement, and direct state monitoring of fiat transactions, moving decisively away from any unregulated space.

3. Supporting Excerpts from Sources:

CBI as Sole Regulator: "Iranian President Masoud Pezeshkian stated in a letter to Mohammad Reza Farzin, the Governor of the Central Bank of Iran, that the CBI is the sole authority responsible for regulating the cryptocurrency (ramzpol) market. This includes determining the permitted conditions for holding and exchanging digital assets, as well as being the exclusive entity for licensing, oversight, regulatory frameworks..." (SpecialEurasia, Feb 5, 2025) [2]
New Regulatory Framework: "The Central Bank of Iran (CBI) reaffirmed its role as a primary regulator for digital assets within the jurisdiction by approving the “Policy and Regulatory Framework for Cryptocurrencies” [in Dec 2024]. The new framework emphasizes licensing crypto brokers and custodians to comply with AML/CTF regulations and tax obligations under CBI supervision." (AML Watcher, Dec 11, 2024) [10]
Shift Towards Regulation: "Iran's Minister of Economic Affairs and Finance Abdolnaser Hemmati has announced... that the government intends to regulate digital currencies and cryptocurrencies instead of putting limitations on them..." (FXStreet, Dec 7, 2024) [21]
Controlled Fiat Access: "Starting January 2025, the CBI, through a government-controlled API (Application Programming Interface), resumed fiat-to-crypto transactions, increasing state supervision of digital asset exchanges." (SpecialEurasia, Feb 5, 2025) [2] "On December 27th 2024 Iranian regime's Central Bank's new program effectively blocked all Iranian cryptocurrency to rial and vice versa payments through internet websites in Iran. In January 2025 the central bank began unblocking cryptomoney to fiat traders exchanges with their own government API for full access to user data." (Wikipedia citing 'arzdigital news', Updated Feb 2025) [7]
Ban on Domestic Payments: "The Central Bank of Iran's new regulations allow for the possession and mining of cryptocurrency but still included a ban on using digital currency as a payment system." (Freeman Law, citing sources up to 2021/earlier, context still relevant) [6] "It is essential to note that while trading on Nobitex is legal, using cryptocurrencies for payments within Iran is not allowed." (Steemit, citing sources) [15]
KYC/AML Emphasis: "89% of Iran's incoming crypto volume was processed by exchanges with Know Your Customer (KYC) requirements." (TRM Labs Blog, Apr 17, 2023, referring to 2022 data) [13] "Some of the “proposed measures” by CBI comprised top levels of access to customer information, including real-time access, constant updates, and an ability to block users whenever deemed necessary..." (Al Jazeera, Feb 27, 2025) [11]

4. Source Links:

[2] SpecialEurasia (Feb 5, 2025): https://www.specialeurasia.com/2025/02/05/crypto-iran-regulation/ (Note: Grounding link provided, actual URL might differ slightly)
[3] Library of Congress (Review date likely older, referencing 2018 events): https://www.loc.gov/law/help/cryptocurrency/iran.php (Note: Grounding link provided, actual URL might differ slightly)
[5] Crystal Intelligence (Mar 5, 2025): https://crystalintelligence.com/news-and-insights/beyond-the-headlines-of-irans-crypto-usage/ (Note: Grounding link provided, actual URL might differ slightly)
[6] Freeman Law (Date unclear, references events up to 2021): https://freemanlaw.com/iran-and-cryptocurrency/ (Note: Grounding link provided, actual URL might differ slightly)
[7] Wikipedia - Virtual currency law in Iran (Accessed Apr 12, 2025, references events up to Feb 2025): https://en.wikipedia.org/wiki/Virtual_currency_law_in_Iran (Note: Grounding link provided, actual URL might differ slightly)
[10] AML Watcher (Dec 11, 2024): https://amlwatcher.com/blog/central-bank-of-iran-approves-policy-and-regulatory-framework-for-cryptocurrencies/ (Note: Grounding link provided, actual URL might differ slightly)
[11] Al Jazeera (Feb 27, 2025): https://www.aljazeera.com/economy/2025/2/27/irans-government-hits-out-at-crypto-again-as-currency-freefalls (Note: Grounding link provided, actual URL might differ slightly)
[12] 99Bitcoins (Dec 9, 2024): https://99bitcoins.com/iran-opts-to-regulate-cryptocurrency-instead-of-enforcing-restrictions/ (Note: Grounding link provided, actual URL might differ slightly)
[13] TRM Labs Blog (Apr 17, 2023): https://www.trmlabs.com/post/irans-crypto-economy (Note: Grounding link provided, actual URL might differ slightly)
[14] Binance News Feed (Feb 1, 2025): https://www.binance.com/en/feed/post/4509109940797 (Note: Grounding link provided, actual URL might differ slightly)
[15] Steemit (Date unclear, references 2022 data): https://steemit.com/cryptocurrency/@cryptoguide/exploring-iran-s-top-legal-cryptocurrency-exchanges-a-comprehensive-guide-for-traders-and-investors (Note: Grounding link provided, actual URL might differ slightly)
[16] bne IntelliNews (Dec 1, 2024): https://www.intellinews.com/iran-imposes-ban-on-promoting-and-training-cryptomining-353912/ (Note: Grounding link provided, actual URL might differ slightly)
[17] CryptoSlate (Aug 30, 2022): https://cryptoslate.com/iran-implements-rules-allowing-businesses-to-use-crypto-for-import-trade-transactions/ (Note: Grounding link provided, actual URL might differ slightly)
[18] Sanction Scanner (Sep 22, 2023): https://sanctionscanner.com/knowledge-base/anti-money-laundering-aml-in-iran-1186 (Note: Grounding link provided, actual URL might differ slightly)
[20] Forbes (Aug 10, 2022): https://www.forbes.com/sites/dominicdudley/2022/08/10/iran-dabbles-in-crypto-for-cross-border-trade-in-effort-to-bypass-sanctions/ (Note: Grounding link provided, actual URL might differ slightly)
[21] FXStreet (Dec 7, 2024): https://www.fxstreet.com/cryptocurrencies/news/central-bank-of-iran-announces-regulation-for-crypto-exchanges-and-custodians-202412070950 (Note: Grounding link provided, actual URL might differ slightly)

End of Report

Okay, here is the comprehensive report on the Retail Trading Status of cryptocurrencies in Iran, prepared with the perspective of a specialized financial regulatory analyst.

**Report Date:** April 12, 2025

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**Topic: Retail_Trading_Status (Iran)**

**1. Current Status:** `Allowed-Regulated`

**2. Detailed Narrative Explanation:**

The status of retail cryptocurrency trading (buying, selling, holding) for individual citizens and residents in Iran is best described as `Allowed-Regulated`. While not explicitly prohibited for individuals as an asset class, the environment has shifted significantly towards stringent state control and regulation, particularly since late 2024 and early 2025.

*   **Historical Context:** Iran's relationship with cryptocurrency has evolved. Initially, in 2018, the Central Bank of Iran (CBI) banned financial institutions from handling cryptocurrencies due to AML/CFT concerns [3, 6]. However, facing severe economic pressure from international sanctions and high inflation, the government recognized crypto mining as an industry in 2019 [6, 7, 16] and later allowed legally mined cryptocurrencies to be used by businesses for import payments to bypass sanctions [15, 17, 20]. Throughout this period, individual holding and trading persisted, often in a grey area, with domestic exchanges emerging to serve local demand [14]. Using crypto for domestic payments remained prohibited [6, 15].

*   **Recent Regulatory Overhaul (Late 2024 - Early 2025):** A major shift occurred with the CBI approving a comprehensive "Policy and Regulatory Framework for Cryptocurrencies" in December 2024 [5, 10, 12]. This move firmly established the CBI as the sole regulatory authority for the crypto market (referred to locally as 'ramzpol' or 'ramzarz') [2, 11]. The framework's stated goals include bringing transparency, preventing illicit activities like money laundering and tax evasion, controlling capital flight, and potentially leveraging crypto for the national economy under state supervision [2, 10, 12].

*   **Licensing and Supervision:** The new regulations mandate that cryptocurrency exchanges, brokers, and custodians obtain licenses from the CBI to operate legally [2, 10, 12]. Licensed entities are subject to strict CBI oversight, including compliance with AML/CFT regulations and tax obligations [10, 12]. The CBI requires extensive access to user data and transaction records from these platforms [2, 5, 11].

*   **Fiat Currency (Rial) Access:** Access to fiat on/off ramps has been a point of friction and control. In late 2024, amid sharp depreciation of the Iranian Rial, the CBI restricted or blocked Rial payment gateways for crypto exchanges via the Shaparak network to curb capital flight and speculation [2, 5, 7, 11]. This caused significant disruption for users [5, 11]. However, starting January 2025, reports indicate the CBI began allowing the resumption of fiat-to-crypto transactions, but crucially, through a government-controlled API, ensuring direct state supervision over these flows [2, 7]. Exchanges must use designated, CBI-approved accounts for Rial transactions [2]. This indicates that while Rial conversions are permitted, they are tightly monitored and controlled by the state.

*   **KYC/AML Requirements:** Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance are central pillars of the new regulatory framework [10, 12]. Iranian law generally mandates KYC/CDD for financial activities [18]. Major Iranian exchanges like Nobitex already implemented relatively robust KYC procedures compared to some global counterparts, often requiring document verification [13]. The new framework intensifies these requirements, demanding high levels of data access for the regulator [11]. Despite this, some Iranians reportedly use methods like VPNs and fake IDs to access international exchanges that prohibit Iranian users due to sanctions [5, 13].

*   **Permitted vs. Prohibited Activities:**
    *   *Allowed/Regulated:* Holding cryptocurrencies as assets, trading on licensed domestic platforms, mining with a government license [6, 16], use by businesses for import payments [17].
    *   *Restricted/Controlled:* Converting Rial to/from crypto (allowed only via state-supervised channels on licensed platforms) [2, 7, 11].
    *   *Banned:* Using cryptocurrency for domestic payments [6, 15], unlicensed crypto operations, advertising related to crypto mining (due to energy concerns) [16].

In summary, Iranian citizens can legally buy, sell, and hold cryptocurrencies, but only through channels and platforms operating under the increasingly strict regulatory and supervisory regime established by the Central Bank of Iran. The environment is characterized by mandatory licensing, strong KYC/AML enforcement, and direct state monitoring of fiat transactions, moving decisively away from any unregulated space.

**3. Supporting Excerpts from Sources:**

*   **CBI as Sole Regulator:** "Iranian President Masoud Pezeshkian stated in a letter to Mohammad Reza Farzin, the Governor of the Central Bank of Iran, that the CBI is the sole authority responsible for regulating the cryptocurrency (ramzpol) market. This includes determining the permitted conditions for holding and exchanging digital assets, as well as being the exclusive entity for licensing, oversight, regulatory frameworks..." (SpecialEurasia, Feb 5, 2025) [2]
*   **New Regulatory Framework:** "The Central Bank of Iran (CBI) reaffirmed its role as a primary regulator for digital assets within the jurisdiction by approving the “Policy and Regulatory Framework for Cryptocurrencies” [in Dec 2024]. The new framework emphasizes licensing crypto brokers and custodians to comply with AML/CTF regulations and tax obligations under CBI supervision." (AML Watcher, Dec 11, 2024) [10]
*   **Shift Towards Regulation:** "Iran's Minister of Economic Affairs and Finance Abdolnaser Hemmati has announced... that the government intends to regulate digital currencies and cryptocurrencies instead of putting limitations on them..." (FXStreet, Dec 7, 2024) [21]
*   **Controlled Fiat Access:** "Starting January 2025, the CBI, through a government-controlled API (Application Programming Interface), resumed fiat-to-crypto transactions, increasing state supervision of digital asset exchanges." (SpecialEurasia, Feb 5, 2025) [2] "On December 27th 2024 Iranian regime's Central Bank's new program effectively blocked all Iranian cryptocurrency to rial and vice versa payments through internet websites in Iran. In January 2025 the central bank began unblocking cryptomoney to fiat traders exchanges with their own government API for full access to user data." (Wikipedia citing 'arzdigital news', Updated Feb 2025) [7]
*   **Ban on Domestic Payments:** "The Central Bank of Iran's new regulations allow for the possession and mining of cryptocurrency but still included a ban on using digital currency as a payment system." (Freeman Law, citing sources up to 2021/earlier, context still relevant) [6] "It is essential to note that while trading on Nobitex is legal, using cryptocurrencies for payments within Iran is not allowed." (Steemit, citing sources) [15]
*   **KYC/AML Emphasis:** "89% of Iran's incoming crypto volume was processed by exchanges with Know Your Customer (KYC) requirements." (TRM Labs Blog, Apr 17, 2023, referring to 2022 data) [13] "Some of the “proposed measures” by CBI comprised top levels of access to customer information, including real-time access, constant updates, and an ability to block users whenever deemed necessary..." (Al Jazeera, Feb 27, 2025) [11]

**4. Source Links:**

*   [2] SpecialEurasia (Feb 5, 2025): `https://www.specialeurasia.com/2025/02/05/crypto-iran-regulation/` (Note: Grounding link provided, actual URL might differ slightly)
*   [3] Library of Congress (Review date likely older, referencing 2018 events): `https://www.loc.gov/law/help/cryptocurrency/iran.php` (Note: Grounding link provided, actual URL might differ slightly)
*   [5] Crystal Intelligence (Mar 5, 2025): `https://crystalintelligence.com/news-and-insights/beyond-the-headlines-of-irans-crypto-usage/` (Note: Grounding link provided, actual URL might differ slightly)
*   [6] Freeman Law (Date unclear, references events up to 2021): `https://freemanlaw.com/iran-and-cryptocurrency/` (Note: Grounding link provided, actual URL might differ slightly)
*   [7] Wikipedia - Virtual currency law in Iran (Accessed Apr 12, 2025, references events up to Feb 2025): `https://en.wikipedia.org/wiki/Virtual_currency_law_in_Iran` (Note: Grounding link provided, actual URL might differ slightly)
*   [10] AML Watcher (Dec 11, 2024): `https://amlwatcher.com/blog/central-bank-of-iran-approves-policy-and-regulatory-framework-for-cryptocurrencies/` (Note: Grounding link provided, actual URL might differ slightly)
*   [11] Al Jazeera (Feb 27, 2025): `https://www.aljazeera.com/economy/2025/2/27/irans-government-hits-out-at-crypto-again-as-currency-freefalls` (Note: Grounding link provided, actual URL might differ slightly)
*   [12] 99Bitcoins (Dec 9, 2024): `https://99bitcoins.com/iran-opts-to-regulate-cryptocurrency-instead-of-enforcing-restrictions/` (Note: Grounding link provided, actual URL might differ slightly)
*   [13] TRM Labs Blog (Apr 17, 2023): `https://www.trmlabs.com/post/irans-crypto-economy` (Note: Grounding link provided, actual URL might differ slightly)
*   [14] Binance News Feed (Feb 1, 2025): `https://www.binance.com/en/feed/post/4509109940797` (Note: Grounding link provided, actual URL might differ slightly)
*   [15] Steemit (Date unclear, references 2022 data): `https://steemit.com/cryptocurrency/@cryptoguide/exploring-iran-s-top-legal-cryptocurrency-exchanges-a-comprehensive-guide-for-traders-and-investors` (Note: Grounding link provided, actual URL might differ slightly)
*   [16] bne IntelliNews (Dec 1, 2024): `https://www.intellinews.com/iran-imposes-ban-on-promoting-and-training-cryptomining-353912/` (Note: Grounding link provided, actual URL might differ slightly)
*   [17] CryptoSlate (Aug 30, 2022): `https://cryptoslate.com/iran-implements-rules-allowing-businesses-to-use-crypto-for-import-trade-transactions/` (Note: Grounding link provided, actual URL might differ slightly)
*   [18] Sanction Scanner (Sep 22, 2023): `https://sanctionscanner.com/knowledge-base/anti-money-laundering-aml-in-iran-1186` (Note: Grounding link provided, actual URL might differ slightly)
*   [20] Forbes (Aug 10, 2022): `https://www.forbes.com/sites/dominicdudley/2022/08/10/iran-dabbles-in-crypto-for-cross-border-trade-in-effort-to-bypass-sanctions/` (Note: Grounding link provided, actual URL might differ slightly)
*   [21] FXStreet (Dec 7, 2024): `https://www.fxstreet.com/cryptocurrencies/news/central-bank-of-iran-announces-regulation-for-crypto-exchanges-and-custodians-202412070950` (Note: Grounding link provided, actual URL might differ slightly)

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**End of Report**

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