CandleFocus Iran's Crypto Exchanges Witness Major Growth Amidst International Sanctions
2024-10-22
Author: Content Editor
Iran's domestic cryptocurrency market has seen significant growth, with 15-19 million citizens actively participating in crypto trading. Despite international sanctions and regulatory pressures, there are now 90 crypto exchanges in Iran, with 10 major centralized exchanges leading the market. Nobitex is the largest exchange, serving 6 million active users. Iranian exchanges have gained prominence due to inaccessibility to international platforms because of US sanctions. However, regulatory attention has also increased, with concerns raised about sanctions evasion and money laundering activities. Users of Iranian exchanges also face risks such as asset freezes and wallet addresses associated with Iranian exchanges are being identified and tagged by blockchain analysis firms.
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