According to a recent report by the data analysis company Chainalysis, the use of digital currencies in Iran has seen an upward trend in 2024. The report indicates that out of a total of $15.8 billion in digital currency transactions in sanctioned areas, Iran has accounted for a significant share. Analysts at Chainalysis emphasize that this increase is primarily driven by ordinary citizens aiming to preserve the value of their assets. Factors such as fluctuations in the value of the Iranian Rial, restrictions on access to international banking services, and the need to maintain economic mobility are among the main reasons for Iranians’ inclination towards digital currencies, with Bitcoin (BTC) being the most popular choice among Iranian users.
