Iran Places First Crypto-Funded Import Order, Worth $10M: Report

The government amended the country's digital assets laws two years ago to allow locally mined crypto for imports payments.

AccessTimeIconAug 9, 2022 at 11:30 a.m. UTC
Updated Sep 21, 2022 at 2:14 p.m. UTC

Sandali Handagama is a CoinDesk reporter with a focus on crypto regulation and policy. She does not own any crypto.

Iran registered its first import order to be paid in crypto since the government, strapped for foreign currencies due to sanctions, amended digital assets legislation to allow locally mined cryptocurrencies to be used for purchases.

  • The order is valued at $10 million, the Tasnim news agency reported Tuesday.
  • The report cited a tweet from Alireza Peyman-Pak, an official at the Ministry of Industry, Mine and Trade, which said (in Farsi) that by the end of September, Iran's "use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries."
  • In 2019, the government legalized crypto mining in the country. It still strictly regulates the sector and cracked down on local miners over energy use last year.




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Sandali Handagama is a CoinDesk reporter with a focus on crypto regulation and policy. She does not own any crypto.

CoinDesk - Unknown

Sandali Handagama is a CoinDesk reporter with a focus on crypto regulation and policy. She does not own any crypto.

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