Iran has tightened control over cryptocurrencies in response to its struggling economy. The Central Bank of Iran (CBI) has prohibited rial-based transactions in cryptocurrency exchanges, affecting over 10 million users. These measures are aimed at slowing the depreciation of the national currency and preventing individuals from converting their money into foreign assets. The government's increasing control over crypto suggests a push for strict regulation, as the CBI becomes the sole authority overseeing the country's crypto market. Additionally, the CBI is imposing new conditions on crypto exchanges and is considering a 4% daily price fluctuation limit on the popular stablecoin, Tether (USDT). These restrictions add pressure to the already declining global crypto market, which has lost $500 billion in value over the past week.



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