The Central Bank of Iran has decided to fully block bank accounts and payment networks for local cryptocurrency exchanges. Following recent temporary measures that restricted Tether purchase limits, this move represents a powerful new step to completely shut off fiat deposit and withdrawal channels for local exchanges.

In reality, this measure appears to be tied to intense pressure from the international community, hidden behind the stated goal of domestic market stabilization. A recent U.S. Senate report revealed that 84% of wallets linked to Iran used Tether (USDT), and that the Central Bank of Iran had even accumulated $500 million in Tether to defend the value of the rial. Major local exchanges like Nobitex, which are already under sanctions by the U.S. Office of Foreign Assets Control (OFAC), seem to be trapped as they are caught in global compliance nets.

If official government channels are blocked, local users will likely retreat into the darker corners of the market, such as over-the-counter (OTC) trading or P2P platforms. The interplay between state-level moves to evade sanctions, global regulatory efforts to stop them, and the survival strategies of individual traders will be a key point to watch moving forward.

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