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Iran turns to crypto to get around sanctions

Authorities have quietly relaxed controls on foreign currency to encourage traders to repatriate much-needed funds

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DW NOTE

Iran closed the Strait of Hormuz in February, cratered its own export revenue, and is now relaxing capital controls to let crypto traders bring dollars back in. Sanctions evasion works until you sanction yourself — then it's just begging expatriate money-changers to cover the budget gap you created by mining your own shipping lanes.

Read the full story at Financial Times →

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Iran turns to crypto to get around sanctions

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