Iranian banks and forex shops can use cryptocurrencies for importation
The adoption of cryptocurrencies has been amazing over the past few years, especially in recent months. Individual and institutional investors as well as governments have become open to the idea of using cryptocurrencies to promote growth. Iran has taken another step forward. It has decided to allow private banks and forex shops in the country to import goods using cryptocurrencies.
Iranian banks allowed to use cryptocurrencies
The Central Bank of Iran announced that it has allowed banks and forex shops to use cryptocurrencies to import goods. Iran is using this strategy to mitigate the effects of sanctions imposed by the United States.According to the apex bank, the banks and other moneylenders in the country can use Bitcoin and other cryptocurrencies to pay for imports such as raw materials and electronics. The country has been exploring the use of cryptocurrencies to circumvent the United States’ economic sanctions. It is now expanding the operation.
In October last year, the central bank said it would use cryptocurrencies bought from miners to import goods into the country. At the time, Iranian miners were obligated to sell their cryptocurrencies to the government to enable them to fund imports.
The government is now expanding this operation to capture private banks and forex shops in the country. Under its regulatory framework, the cryptocurrencies to be used can only be obtained from licensed crypto miners in the country.
Iran using cryptocurrencies to mitigate economic sanctions
The Iranian government has been using cryptocurrencies to mitigate the effects of economic sanctions imposed by the United States. In 2018, the Iranian think tank Majlis Research Center suggested that the government could circumvent the sanctions using cryptocurrencies for foreign trade.The administration took the advice and allowed the central bank to start using cryptocurrencies for foreign trade. Shahab Javanmardi, a member of the Iran Chamber of Commerce Industries Mining and Agriculture, or ICCIMA, promoted the use of cryptocurrencies earlier this year.
He said, “Repatriating revenue from exporting gas and electricity is not possible under the present [U.S. sanctions]. The government can promote the use of excess electricity output or power generated by small-scale plants to mine cryptocurrencies and make up for the locked resources.”
The government opening up the cryptocurrency mining sector has made Iran one of the leading crypto-mining countries in the world.
100% Success Money Back Guarantee
If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Take your next step towards crypto success
$799/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
What’s included in Pro:
Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
Our latest memecoins pick with 50X potential
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the success guarantee work?
If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Recommended from Cryptonary
