Crypto Exchanges Banned in Iran - 2025 Restrictions Explained

Ever wondered which crypto platforms you can’t use if you’re in Iran? The short answer is: it’s not just a list of names. Iran’s crypto scene in 2025 is split between home‑grown exchanges that the government keeps under a tight leash and foreign platforms that shut Iranian accounts out to avoid U.S. sanctions. Below we break down the two‑pronged restriction system, name the exchanges that are effectively off‑limits, and show you how people are still getting crypto exposure despite the hurdles.

Understanding Iran’s Dual Crypto Restriction System

Iran runs a Central Bank of Iran (the nation’s monetary authority that enforces fiat‑crypto conversion rules) that blocks any direct crypto‑to‑rial flow on ordinary websites. In December2024 the bank announced a blanket ban on internet‑based crypto payments, effectively cutting off most peer‑to‑peer trading. By early 2025 it opened a narrow window for “government‑approved” exchanges that feed data through an official API, giving the state full visibility into user transactions.

At the same time, the U.S. Treasury’s Office of Foreign Assets Control (OFAC (the agency that enforces economic sanctions against Iran and other sanctioned entities) ) has been pressuring global crypto firms to block Iranian wallets. The result is a layered barrier: domestic platforms need a government API key, while foreign platforms either voluntarily lock Iranian accounts or are forced to do so by OFAC designations.

Domestic Exchanges Under Government Control

The biggest home‑grown platform is Nobitex (Iran’s largest crypto exchange, handling a majority of the country’s trading volume). After the July2025 Tether freeze that hit dozens of Nobitex‑linked addresses, the Central Bank tightened its grip, demanding that every Nobitex user’s data pass through the state‑run API. The exchange can still operate, but only if it complies with the data‑sharing mandate and respects the new stablecoin caps (max $5,000 purchase per year, $10,000 holding limit).

Other smaller Iranian platforms-such as Wallex (a crypto‑fiat gateway that offers limited services under the central bank’s oversight) and Exir (a peer‑to‑peer marketplace that now requires API verification for each transaction)-are also subject to the same reporting requirements. In practice, these domestic exchanges are not “banned”; they are heavily monitored and can only trade approved crypto‑to‑rial pairs.

International Exchanges Blocking Iranian Users

Most of the big global platforms have decided that the compliance risk outweighs the potential market in Iran. Here’s why:

• Tether froze 42 Iranian‑linked wallets on July22025, many of which were funneling USDT through Nobitex. The freeze sent a clear warning to any exchange that processes USDT for Iranian accounts.
• Bittrex (now in bankruptcy) locked all Iranian‑owned accounts after an OFAC sanction list added several Iran‑related addresses. The platform cited its Terms of Service, which grant it the right to suspend accounts for legal compliance.
• U.S.‑based services like Coinbase, Kraken and Binance.US have pre‑emptively blocked Iranian IPs and wallet addresses to avoid secondary sanctions.
• Asian giants such as Huobi and OKX have also stopped onboarding Iranian users, citing “regulatory uncertainty” after OFAC’s 13 designations in 2024.

The result is a de‑facto ban on most major foreign exchanges for Iranian residents, even if the platforms never officially announced a “Iran ban.”

What Exchanges Are Effectively Banned?

Below is a snapshot of the current status for the most‑used platforms as of October2025. “Banned” means the exchange either blocks Iranian IPs, freezes accounts, or has been forced to stop servicing Iranian users due to sanctions. “Restricted” denotes exchanges that still operate but only under the Iranian government’s API system.

Notice that no exchange is officially “banned” by Iranian law; the bans come from external compliance pressures. The domestic market is choked by strict data‑sharing rules, while the international market is largely shut off by sanctions.

Workarounds and Alternatives

Despite the heavy hand, Iranian traders still find ways to stay in the crypto game. Here are the most common tactics:

1. Use Turkish intermediaries: Turkey’s liberal crypto environment makes it a popular gateway. Users create Turkish residency or use VPNs to access Turkish exchanges, then move funds back to Iran through peer‑to‑peer channels.
2. Swap USDT for DAI on Polygon: After the July2025 Tether freeze, many influencers advised moving USDT into decentralized stablecoins like DAI via the Polygon network, which is less likely to be flagged by OFAC.
3. Peer‑to‑peer OTC desks: Small OTC desks operating under the radar (often on messaging apps) allow direct fiat‑crypto trades without involving a traditional exchange.
4. Hardware wallets and offline transfers: Traders store crypto on hardware wallets and only use exchanges for occasional on‑ramps, minimizing exposure to banned platforms.
5. Decentralized exchanges (DEXs): Platforms such as Uniswap or SushiSwap on Ethereum and Polygon let users trade without a central authority, though gas fees can be high.

Each workaround carries its own risk-legal, regulatory, or security‑related-so users should evaluate the trade‑offs carefully.

Recent Regulatory Updates (2025)

Two key changes in 2025 shape the current landscape:

• Stablecoin caps: On September27 the Central Bank limited individual stablecoin purchases to $5,000 per year and holdings to $10,000. This curtails mass inflows of USDT or USDC into Iran.
• Taxation law: The August2025 “Law on Taxation of Speculation and Profiteering” now taxes crypto capital gains at the same rate as gold and real estate, forcing traders to keep detailed records.

Both moves signal Tehran’s intent to keep a formal, taxable crypto market-even if it remains under strict supervision.

Key Takeaways

While the phrase “crypto exchanges banned in Iran” suggests a simple blacklist, reality is far more nuanced. Domestic exchanges like Nobitex are not prohibited; they just operate under a government‑mandated API that logs every trade. International platforms are effectively banned because they must obey U.S. sanctions-Tether’s wallet freeze and OFAC designations are the primary drivers. Traders therefore rely on cross‑border services, stablecoin swaps, and decentralized protocols to stay active.

Understanding this two‑layered system helps you avoid dead‑ends, comply with emerging tax rules, and pick the safest workaround for your crypto activities.