Guards-linked outlet warns crypto fever in Iran risks blocked assets
A new wave of cryptocurrency speculation has swept through Iranian online markets, with high demand for Tether driving billion-rial trades on unlicensed domestic exchanges, wrote the IRGC-linked outlet Tasnim on Monday.
The agency cautioned that behind the excitement lies a severe risk of financial damage.
“The digital currency market these days is full of real stories of heavy losses,” Tasnim wrote, citing cases of blocked accounts, frozen assets and steep declines in value.
Tasnim quoted experts as saying that in Iran’s economic climate, “we are facing a market with no official oversight, no licensed exchanges, and no recourse if problems arise.”
Recent sanctions pressures and global compliance rules on Tether make Iranian traders especially vulnerable to sudden freezes, with little chance of recovery, added the report.
