Iran Cheerfully Admits Using Cryptocurrency To Pay For Imports

Iran has announced it used cryptocurrency to pay for imports, raising the prospect that the nation is using digital assets to evade sanctions. The Register reports: Trade minister Alireza Peyman Pak revealed the transaction with the tweet [here], which translates as "This week, the first official import order was successfully placed with cryptocurrency worth ten million dollars. By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries." It is unclear what Peman Pak referred to with his mention of widespread use of crypto for foreign trade, and the identity of the foreign countries he mentioned is also obscure. But the intent of the announcement appears clear: Iran will use cryptocurrency to settle cross-border trades.

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