In the case of Iran, too, it has long been suspected that the country would use cryptocurrencies to circumvent sanctions. Since the sanctions came into force, the proportion of Iranians using cryptocurrencies has increased significantly. What’s more, in early January, Iran’s central bank allowed companies to use cryptocurrencies to pay for their exports and imports. This is how payments to international partners can be processed. The German-Iranian Chamber of Commerce eV, a private association for the promotion of economic relations between Germany and Iran, also points out on its website that cryptocurrencies represent a way “outside the conventional banking system”.
