What Crypto Exchanges Are Banned in Iran? Understanding the Real Restrictions in 2025

Iran doesn’t have a simple list of banned crypto exchanges like you’d find in a government press release. Instead, Iranian users face a dual wall: one built by their own government, and another by international companies complying with U.S. sanctions. If you’re trying to trade crypto from Iran in 2025, you’re not just fighting technical hurdles-you’re navigating a system designed to control, track, and limit your access.

Iran’s Government Blocks All Crypto-to-Fiat Traffic

On December 27, 2024, Iran’s Central Bank shut down all internet-based cryptocurrency exchanges that allowed direct trading between crypto and the Iranian rial. That meant no more buying Bitcoin with rials through local platforms like Nobitex or Digifinex. The move wasn’t meant to stop crypto entirely-it was meant to bring it under state control.

By January 2025, the government began allowing a few exchanges to reopen, but only if they connected directly to a government-controlled API. This system gives the Central Bank full visibility into every trade, wallet address, and user identity. It’s not about legality anymore-it’s about surveillance. If you’re using a local exchange today, you’re being monitored. Your purchases, your balances, your withdrawals-all logged and tracked.

Tether’s Massive Freeze Hit Iranian Users Hard

The biggest single blow came on July 2, 2025, when Tether, the company behind USDT, froze 42 cryptocurrency addresses linked to Iranian users. More than half of those addresses were tied to Nobitex, Iran’s largest exchange. The total value frozen exceeded $150 million.

Why? These addresses had transaction histories connecting them to IRGC-linked wallets, flagged by Israeli counter-terrorism agencies. Tether didn’t just freeze one account-it froze entire networks of users who had never interacted with sanctioned entities. The result? Thousands of ordinary Iranians lost access to their funds overnight.

Tasnim News, an IRGC-affiliated outlet, warned in September 2025 that Tether could freeze even more Iranian wallets at any time. That’s not speculation-it’s a statement of policy. Tether, like most major crypto firms, refuses to risk U.S. sanctions penalties, even if it means locking out innocent users.

Bittrex and Other Foreign Exchanges Cut Off Iran

Bittrex, once a popular choice for Iranian traders, shut down all Iranian accounts after U.S. Treasury sanctions tightened in 2023. Iranian user Ghader sued the exchange for $88 million in lost gains after missing the 2021 bull run, but the court dismissed the case. Why? Because Bittrex’s Terms of Service explicitly allow them to suspend accounts for compliance reasons.

Other global exchanges like Coinbase, Kraken, and Gemini don’t even let Iranian users sign up. Their systems automatically block IP addresses from Iran. Even if you use a VPN, most of these platforms now require government-issued ID verification. Without a valid Iranian passport and national ID, you can’t complete KYC. And even if you could, your payment methods-bank cards, PayPal, Apple Pay-are all blocked.

Stablecoin Limits: $5,000 Per Year, $10,000 Max

In September 2025, Iran’s Deputy Governor of the Central Bank, Asghar Abolhasani, imposed strict limits on stablecoin ownership:

• Maximum annual purchase: $5,000 per person
• Maximum balance allowed: $10,000 in stablecoins

These rules target USDT specifically. You can’t hold more than $10,000 in any stablecoin at once. If you buy $5,000 in January, you can’t buy more until next year-even if you sell your holdings. The goal? To prevent capital flight and stop Iranians from using crypto as a store of value outside the rial system.

Advertising Ban: No More Crypto Promotions

In February 2025, Iran launched a nationwide ban on all cryptocurrency advertising. That means:

• No YouTube videos promoting exchanges
• No Instagram influencers talking about Bitcoin
• No billboards or radio ads for crypto trading
• No sponsored posts on Telegram channels

This isn’t just about regulation-it’s about censorship. The government doesn’t want people to learn about crypto. They don’t want new users to join. They want the market to shrink, not grow.

Nobitex: The Exchange Under Fire

Nobitex remains Iran’s most-used exchange, but it’s also the most targeted. Its connection to frozen Tether addresses has made it a focal point for international sanctions enforcement. While Nobitex itself isn’t officially banned by the Iranian government, its ability to process international withdrawals has been crippled.

Many users who relied on Nobitex to cash out Bitcoin into rials now find their accounts frozen or under review. The exchange still operates, but it’s been stripped of its global liquidity. Most trades now happen within Iran’s controlled ecosystem, meaning users can’t easily move crypto offshore.

How Iranians Are Adapting

Despite the restrictions, crypto trading hasn’t disappeared-it’s just gone underground. Here’s what’s happening now:

• DAI on Polygon: After Tether’s freeze, users shifted to DAI, a decentralized stablecoin on the Polygon network. It’s harder to freeze because it’s not controlled by a single company.
• Turkey as a Hub: Thousands of Iranians now travel to Turkey, open bank accounts, and use Turkish exchanges like Paribu or Binance TR to move crypto in and out of Iran. Turkish intermediaries are now key players in Iran’s sanctions-bypassing network.
• Peer-to-Peer Trading: Local Telegram groups and WhatsApp networks have become the main way Iranians buy and sell crypto. Payments are made in cash, via hawala systems, or through trusted third parties.
• Hardware Wallets: Iranians are increasingly using Ledger and Trezor devices to store crypto offline, avoiding exchange freezes altogether.

Iran Now Taxes Crypto Profits

In August 2025, Iran passed the Law on Taxation of Speculation and Profiteering. For the first time, crypto trading profits are taxed at the same rate as real estate, gold, and forex gains. This doesn’t mean crypto is legal-it means the government wants a cut.

If you make $20,000 trading Bitcoin in 2025, you owe taxes on it. But here’s the catch: you have to report it. And reporting means revealing your wallet addresses and transaction history. Most users won’t do that. So while the law exists, enforcement is minimal. It’s more a warning than a rule.

Why This Matters Beyond Iran

Iran’s situation isn’t unique. Countries like Venezuela, North Korea, and Russia face similar restrictions. What’s happening in Iran is a preview of how global financial systems are being weaponized against sanctioned populations.

Crypto was supposed to be free from borders. But in 2025, it’s clear: if you’re from a sanctioned country, your access to crypto is controlled by the same powers that imposed the sanctions. The technology is open, but the gatekeepers aren’t.

What You Can Do If You’re in Iran

If you’re trying to trade crypto from Iran today:

• Don’t rely on local exchanges for withdrawals-they’re monitored.
• Use DAI instead of USDT-it’s less likely to be frozen.
• Store your crypto in a hardware wallet, not on an exchange.
• Use peer-to-peer networks for buying and selling.
• If you can travel, consider Turkey as a temporary base for accessing global markets.
• Never share your wallet addresses publicly-especially on social media.

The truth is, there’s no easy way out. The system is designed to make crypto difficult, expensive, and risky for Iranians. But it’s not impossible. People are still trading. They’re still holding. They’re still finding ways. And as long as the internet exists, so will the demand for financial freedom.