US and Iran navigate cryptocurrency use amid sanctions

Just hours before conflict escalated between the United States, Israel, and Iran in February, a Tehran-based crypto user withdrew his savings from Iran’s largest digital asset platform, fearing potential seizure during wartime. Iran’s crypto market, valued at over $7.78 billion, has become a vital tool for both citizens and state entities like the Islamic Revolutionary Guard Corps to bypass U.S. sanctions. Recent U.S. sanctions targeting Iranian crypto wallets aim to restrict Tehran’s financial maneuvers, complicating the landscape for ordinary Iranians seeking financial stability amid economic turmoil.

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