Iran has imposed new limits on stablecoin transactions, capping annual purchases at $5,000 per person and total holdings at $10,000, authorities announced on Saturday, as the rial plunged to a record low on the eve of the return of UN sanctions.
The decision, adopted during the Central Bank’s High Council session this week, applies to all traders and users on licensed digital platforms and must be implemented within a one-month transition period, according to Asghar Abolhasani, secretary of the High Council.
“From now on, the ceiling for purchasing stablecoins is set at $5,000 per user annually, and holdings cannot exceed $10,000,” Abolhasani told Iran's state TV.
He said those already holding stablecoins will have only a brief period to comply.
“The important point is that in regard to stablecoins currently in possession, a maximum one-month transition period has been set, during which the authorized ceiling for holdings must be observed.”
Stablecoins are digital tokens pegged to traditional currencies, with Tether (US dollar) being the most widely used.
In Iran, Tether has become a lifeline for households and traders seeking to protect savings from inflation or to move money abroad, offering the stability of the US dollar without the barriers of the formal banking system.
The new restrictions come as the rial continues to collapse, hitting an all-time low of 1,136,500 per US dollar on Saturday. The national currency is likely to lose further value amid the looming renewal of UN sanctions and worsening public confidence in government controls.
Stablecoins such as Tether have surged in popularity among Iranians since the war with Israel and US earlier this year. For many, converting rials into digital dollars has been the only way to preserve value.
The new cap is expected to affect thousands of small traders who have been making a living in crypto and could now face penalties for exceeding the legal ceiling.
The Central Bank’s move mirrors past efforts to curb demand for foreign currency during sharp market downturns. In earlier crises, authorities restricted access to dollars and gold in hopes of stabilizing the rial, but the measures had little long-term impact and often pushed transactions into black markets.
Iran’s currency has steadily depreciated over the past decade, battered by sanctions, inflation, and mismanagement.
