Iran's Cryptocurrency Crackdown: Economic Turmoil and Control Measures

Iranian authorities are escalating their crackdown on cryptocurrencies due to the plummeting value of the rial and ongoing economic turmoil. The Central Bank of Iran (CBI) has blocked rial payments on crypto exchanges, restricting Iranians' access to Bitcoin and other digital currencies. These measures aim to curb the outflow of the national currency, though they are criticised as unethical and biased. The CBI also seeks increased control over the crypto market, including access to user data and trading limits, under the guise of "minimising risks". Experts believe the government may target crypto transactions for taxation and use them to circumvent international sanctions. These actions are likely to drive crypto activity underground, further widening the gap between the people and the government.

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