Iran turns to crypto to get around sanctions

Iran is utilizing cryptocurrency to circumvent US sanctions by relaxing foreign currency controls. According to the Financial Times, authorities have eased rules to encourage traders to repatriate essential funds. Exporters are now permitted to fund their imports using overseas earnings directly, removing the previous requirement to sell foreign currency at official rates. This strategic shift aims to secure much-needed capital and maintain trade flows despite the restrictive economic pressures imposed by international sanctions.