Crypto becomes vital for Iranian trade amid sanctions and US tensions raising oil prices.

Amid US-Iran tensions and sanctions limiting traditional payment methods, Iranian businesses increasingly rely on cryptocurrency for domestic and international trade. Bitcoin and other digital assets help move money across borders despite restrictions on Visa, Mastercard, and SWIFT access. While crypto facilitates payments, it cannot fully replace legal and trust frameworks needed for formal trade, especially with countries like Russia. The surge in crypto use is also linked to Iran's cheap electricity fueling Bitcoin mining, though this has caused power shortages. Recent military tensions near the Strait of Hormuz have pushed oil prices higher, underscoring the complex economic challenges Iran faces.