Iranian Crypto Holdings Equal a Third of National Gold Market

Iranian crypto holdings, valued between $30 billion and $50 billion, constitute about a third of the national gold market, according to economist Mohammad Sadegh Alhosseini. Daily cryptocurrency trading in Iran is approximately $143 million (100 trillion rials). The Central Bank of Iran (CBI) and the finance ministry are working on measures to enhance transparency in the crypto market, which has been used to bypass U.S. sanctions on international banking.

On Saturday, the CBI released a policy document aiming to align cryptocurrency trades with Iran’s anti-money laundering and tax laws. Alhosseini warned that stricter regulations might expose sanction-evading businesses to U.S. penalties, putting responsibility on the CBI. He suggested that private entities could play a role in organizing the market, reducing direct government oversight risks.

Source - https://news.bitcoin.com/iranian-crypto-holdings-equal-a-third-of-national-gold-market/