Who Holds Cryptocurrency in Iran? A Map Clarifying the Boundaries of the Central Bank, Stock Exchange, and Taxation

In Iran, there is no comprehensive cryptocurrency law or a single regulator for all digital assets. The Central Bank oversees cryptocurrencies, exchanges, and services related to the trading and custody of tokens; the Stock Exchange Organization is responsible for tokenized securities; the Ministry of Industry, Mine and Trade regulates mining and some tokens representing ownership; the National Production Financing Council focuses on financing tools and collateral; the Tax Administration is responsible for implementing the tax layer; and the Financial Intelligence Unit follows anti-money laundering requirements.

The practical result of this division of labor is that it is not possible to write a single legal ruling for Bitcoin, Tether, digital Rial, tokenized shares, service access tokens, and mining devices. The subject, the function of the asset, and the type of service provided determine the regulator and the governing document.

Legal Note: This article is a report and general analysis of regulations and does not substitute for legal or tax advice tailored to specific cases, contracts, or business models.

What do we know about the latest review of cryptocurrency regulations in Iran?

• The final guidelines for cryptocurrency brokers were approved on September 27, 2025, and according to the published text, they will come into effect three months later.
• The capital gains tax law on cryptocurrency trading has brought cryptocurrencies and crypto-assets into the realm of capital gains tax; the collection of this tax depends on the establishment of the operational framework.
• The crypto-assets regulation has not designated a single regulator and has divided authority among the Central Bank, the Stock Exchange Organization, the Ministry of Industry, and the National Production Financing Council.
• The regulations on crypto-asset advertising have prohibited promises of fixed profits, advertising leveraged trading, and introducing cryptocurrencies as payment tools.
• The most significant remaining gaps include a general license for the custodian institution, complete executive regulations for utility tokens, final and general frameworks for securities tokens, the status of many DeFi services, and a complete mechanism for the tax invoicing of transactions outside authorized platforms.

The Cryptocurrency Regulatory Matrix in Iran 2026

| Financial and Documentation | National Council for Production Financing | Cryptocurrency Regulations; Law on Production Financing and Infrastructure | Specific Policy Competence | The financing token cannot be considered merely a technological product | Implementation standards, valuation, bankruptcy, and collateral execution | | Cryptocurrency Mining | Ministry of Industry, Mine and Trade; in collaboration with the Ministry of Energy and other agencies | Cabinet approval and mining regulations; framework | Authorized with a license and permitted energy | Mining without a license or with unauthorized electricity is a violation | Seasonal restrictions, variable tariffs, and the possibility of continuous operation | | Domestic Payments with Cryptocurrency | Central Bank | Framework 1403 and regulations | Prohibited, except for the Central Bank's digital currency | Bitcoin, Tether, and other cryptocurrencies are not official domestic payment instruments | Contract settlement limits, barter, and technical payments in specific models | | Cryptocurrency Advertising | High Commission for Regulating the Virtual Space; Ministry of Culture and sector regulators | Cryptocurrency advertising regulations | Has specific regulations | Guaranteed profits, leverage advertising, and introducing cryptocurrency as a payment tool are prohibited | Final list of licenses, ranking of platforms, and uniform implementation mechanisms across all media | | Anti-Money Laundering | Financial Information Center, Central Bank, and relevant individuals | Law and regulations on anti-money laundering; broker guidelines | Current obligation for supervised businesses | KYC, record-keeping, monitoring, and reporting suspicious transactions are required | Unified technical standards for self-custody transactions and decentralized services | | Transfer and Capital Gains Tax | Tax Affairs Organization | Law on speculation and gambling tax 1404 | Approved law; collection conditional on the execution platform | Cryptocurrency, digital currency, and crypto-assets are within the law; crypto-rial is exempted | Official announcement date of the platform, on-chain valuation, cost price, and billing execution outside the platform | | E-Namad and Payment Gateway | Center for Electronic Trade Development, Shaparak, and Central Bank | E-commerce regulations and payment regulations | Additional layer of platform activity | Access to banking services and gateways is subject to institutional requirements | Full coordination between E-Namad, Central Bank license, and industry lists |

The main reason is the difference in the functions of assets. A token can serve as a medium of exchange, represent ownership of an asset, grant rights to receive profits or participate, act merely as a key to access a service, or be considered as the official digital currency of the central bank. Iran's regulations have divided authority based on these functions.

The cryptocurrency regulations approved on January 8, 2024, have explicitly incorporated this division of labor into the legal framework. According to Article 4, foreign and domestic payment instruments and CBDCs fall under the supervision of the central bank; the Securities and Exchange Organization oversees securities backed by cryptocurrencies; the Ministry of Industry, Mine and Trade regulates mining and ownership transaction tools; and the National Production Financing Council is responsible for financing instruments, collateral, and some applications of external financing.

This regulation has not completely resolved the issue of jurisdictional conflict, but it provides a more precise starting point than the general statement "everything is under the supervision of the central bank." Miham Blockchain previously examined the division of labor among cryptocurrency regulators and the remaining ambiguities of this fragmentation in a report.

How is the hierarchy of documents structured?

To understand the current ruling, five levels must be distinguished:

1. Legislation passed by the Parliament: Such as the Central Bank Law and the Tax on Speculation Law. The executive branch cannot override the law with directives.
2. Higher-level regulatory resolutions: Such as the cryptocurrency regulations of the Supreme Council of Cyberspace, which determine institutional division of labor.
3. Specialized executive regulations: Such as the guidelines for cryptocurrency brokers that specify the conditions for establishment, capital, licensing, and supervision.
4. Circulars and case-specific decisions: Such as the ceiling for purchasing and holding stable cryptocurrencies or requirements for payment gateways.
5. News, interviews, and industry lists: These can indicate the status of implementation, but they are not always laws or permits themselves.

Whenever a news item differs from the text of a document, the approved text and its effective date take precedence. If two entities have a dispute over jurisdiction, the nature of the asset and then the higher-level law of each entity should be examined.

What authority does the Central Bank Law grant regarding cryptocurrencies?

The Central Bank Law of the Islamic Republic of Iran, approved on June 20, 2023, provides the first clear legal basis for the central bank's authority in the cryptocurrency domain. Clause "Z" of Article 1 defines cryptocurrency as encrypted digital money that can be created on a shared database in a centralized or decentralized manner and exchanged in a decentralized manner.

Three provisions of this law are particularly significant for the crypto market:

• The Supreme Council decides on the licensing of holding and trading various cryptocurrencies.
• The establishment and development of organized markets for authorized cryptocurrencies fall under the responsibilities of the Central Bank.
• Article 59 places the issuance of payment system guidelines, financial technologies related to payment instruments and cryptocurrencies, as well as the licensing and supervision of active entities under the exclusive jurisdiction of the Central Bank.

The letter from the President on February 5, 2025, also introduced the Central Bank as the exclusive authority for organizing the cryptocurrency market and the licensing reference for active players in this field. This letter clarifies the jurisdiction for global cryptocurrencies and stablecoins but cannot simply bring securities tokens or any non-monetary crypto-assets under the Central Bank's jurisdiction just by changing their names.

What are the differences between cryptocurrencies, securities tokens, and utility tokens?

The Central Bank's policy-making and regulatory framework in the field of cryptocurrencies has separated three categories:

The name chosen by the issuer for the token is not determinative. If a utility token is freely traded, has a public secondary market, promises profits, or takes on a monetary role, it may fall outside the closed-loop definition. If a token creates claims of ownership, profits, or capital repayment, the likelihood of securities or financing regulations entering increases.

Multi-functional tokens are the most challenging cases. For example, a token that provides access to a service and is also sold in the secondary market with profit expectations cannot be classified with a simple label. The contract, whitepaper, marketing method, cash flow, and actual rights of the holder must be examined together.

What did the cryptocurrency brokers' guidelines change?

The guidelines for the establishment, operation, dissolution, and supervision of cryptocurrency brokers were approved by the Supreme Council of the Central Bank on October 27, 2025. The published text contains 58 articles and 28 notes and will come into effect three months after approval. This document is the most important current regulatory provision for domestic exchanges.

The guidelines define two types of brokers:

• Type One Broker: Buying, selling, and exchanging cryptocurrencies and services defined within its permitted scope; minimum capital of 400 billion rials.
• Type Two Broker: Type One services plus the establishment and management of an exchange platform and portfolio management upon issuance of supplementary regulations; minimum capital of 4,000 billion rials.

Capital must be provided from the cash contributions of partners. The main establishment format is a limited partnership. For previous operators, a mixed joint-stock format is also anticipated in the text. Providing consulting and portfolio management is not permitted until the Central Bank's specific requirements are communicated.

This document also delineates the boundary between brokerage and banking operations. A broker cannot accept deposits, guarantee profits, provide loans, or offer services reserved for banks and credit institutions by law. Details of the final approval are included in the news regarding the approval of cryptocurrency brokers' guidelines.

How is a broker's license issued and renewed?

After registering the company, the broker has three months to submit the activity license documents; this deadline can be extended once for another three months. The initial license is valid for one year and can be renewed for up to two years if conditions are met.

Renewal is not just a matter of company registration. The broker must not have any definitive tax debts or non-current obligations, must implement security and information technology requirements, have an anti-money laundering mechanism and identity verification, and maintain the prescribed financial ratios. The debt ratio must be a maximum of 0.5, and the current ratio must be at least one.

Does every active exchange in Iran have a Central Bank license?

The active status of a website, having an E-Namad, membership in an association, connection to a payment gateway, or being listed in an authorized advertising list does not alone prove the final license from the Central Bank. The reliable criterion is a license issued by a legal authority that can be publicly verified.

This distinction is important for users. The phrases <>, <>, <>, and <> represent four different statuses. Until a comprehensive and updated list of final licenses with details of the type of license is published, caution should be exercised regarding any specific platform.

What is the status of user asset custody and the custodian institution?

The Central Bank framework accepts the principle of separating brokerage from professional custody. A brokerage that holds users' cryptocurrencies must have a custodian institution license or use services from an authorized custodian institution. The aim of this separation is to reduce the mixing of customer assets with the operational assets of the exchange and to create independent control over reserves.

However, practical answers to three questions still require further details:

1. Which entities have obtained independent custody licenses?
2. What priority does customer assets have in the event of the broker's bankruptcy?
3. How are proof of reserves, wallet segregation, insurance, and compensation for shortfalls measured against what unit standard?

Until these matters are clarified, users should not confuse <> with the guarantee of asset integrity. The Central Bank itself has not accepted responsibility for compensating losses due to fluctuations, sanctions, wallet blocking, or business violations in its documents.

Is buying and holding cryptocurrencies a crime for people in Iran?

In the reviewed documents, there is no general ruling that considers merely buying or holding Bitcoin, Ether, or Tether a crime for all citizens. Regulations mainly focus on service providers, exchange markets, internal payments, source of funds, taxes, and unlicensed activities.

This response does not imply unrestricted freedom. There are four main limitations:

• Professionally providing buying and holding services to others requires a license.
• Using cryptocurrencies as a means of internal payment is prohibited.
• Transactions related to money laundering, fraud, smuggling, tax evasion, or financing terrorism are subject to criminal and financial laws.
• Regulated platforms must implement ceilings, identity verification, reporting, and restrictive orders from the central bank.

Therefore, <> does not equate to <>, <>, or <>.

Can goods be purchased with Tether or Bitcoin in Iran?

No; using cryptocurrencies as a means of internal payment, except for central bank digital currency, has been declared prohibited. This prohibition has been reiterated within the framework of the central bank and the cryptocurrency regulations, and introducing cryptocurrencies as a means of payment is also prohibited in advertising regulations.

This ruling does not equate the buying and selling of the asset with the payment for goods and services. Trading Tether on a licensed platform is an exchange activity; pricing and settling a laptop or renting a house with Tether constitutes using cryptocurrency as a means of internal payment.

In barter cases or complex private contracts, the naming of the contract is not the final determinant. If the economic outcome of the transaction involves settling a debt or paying for goods with cryptocurrency, the risk of compliance with the payment prohibition remains.

What exactly are the limitations on Tether and stablecoins?

On October 27, 2025, the Supreme Council of the Central Bank announced two ceilings for stablecoin cryptocurrencies, including Tether:

• The total annual purchase limit for each individual or legal entity across all cryptocurrency broker platforms: equivalent to $5,000.
• The total holding limit of stablecoins for each unique national ID: equivalent to $10,000.

This limitation is detailed in the report by Mihan Blockchain regarding the purchase and holding ceilings for stablecoins.

The clear scope of the regulation pertains to cryptocurrency broker trading platforms and their identified users. How to observe and implement the holding ceiling in completely personal wallets, the mechanism for aggregating balances across chains, and ensuring direct enforcement outside domestic platforms requires further technical and legal clarification. Therefore, the statement <<having more than 10,000 Tether in any wallet is a crime>> should not be published without supplementary documentation.

What is the difference between digital rials and Bitcoin and Tether?

Digital Rial is the official digital currency of the Central Bank. Bitcoin has no central issuer, and Tether is a commitment from a private foreign company backed by assets. The Digital Rial is considered a liability or money issued by the Central Bank and is part of Iran's official monetary system.

The Central Bank Law restricts the issuance of digital currency to the Central Bank. Therefore, the Digital Rial is exempt from the general restrictions on using cryptocurrencies as a payment tool, and the capital gains tax law has also excluded the Digital Rial from the list of taxable cryptocurrencies. To understand the architecture and history of the project, one can refer to the Central Bank's Digital Rial guide.

How is cryptocurrency taxed in Iran in 1405?

The Capital Gains Tax Law, approved on July 8, 1404, includes various cryptocurrencies and digital currencies, excluding the Digital Rial, under paragraph 5 of Article 46 of the amended Direct Tax Law. Non-commercial individuals may be subject to capital gains tax upon transferring these assets.

The legalization of taxes is not the same as the commencement of their collection. Note 3 of Article 46 ties the collection of taxes in this chapter to the establishment of an operational platform for taxpayers. The Tax Administration has stated that it has 20 months to create this platform. As of the last review of this article, no reliable official announcement regarding the complete establishment of the platform and the commencement of general cryptocurrency tax collection has been found.

The news of the enactment of the capital gains tax law and the inclusion of cryptocurrencies within its scope explains the legislative history of this change.

How is the tax rate calculated?

For a holding period of one year or more, the total annual capital gains are calculated at the rates specified in Article 131 of the Direct Tax Law. For a holding period of less than one year, the rate is 10 percentage points higher than the highest rate in Article 131. The law also accepts the deduction of inflation-related gains under specified conditions.

This calculation depends on the purchase price, selling price, holding period, electronic invoices, and the identity of the taxpayer, whether commercial or non-commercial. In cryptocurrency transactions, the differences in exchange rates, network fees, transfers between wallets belonging to one person, and multi-stage purchases can complicate the determination of the total cost.

What exemptions are provided for cryptocurrencies?

The most important exemptions include:

• The sale of cryptocurrencies by a non-commercial person to a commercial person authorized by law is exempt from capital gains tax in this chapter.
• The total income of non-commercial individuals from the transfer of gold, currency, and cryptocurrencies over any five years is exempt from capital gains tax up to five times the exemption in Article 84 of this chapter.
• Assets of this group acquired before the establishment of the operational platform are exempt from tax in this chapter for three years after the platform is established.
• The exchange of one cryptocurrency for another from the same category, provided that an electronic invoice is issued and conditions are met, may be exempt from capital gains tax.

The explanation by the spokesperson of the Tax Administration regarding the exemption of cryptocurrency sales to authorized commercial persons is important for understanding this exception. The term "authorized exchange" in this section should be interpreted strictly according to the legal definition and valid licenses, not market reputation or membership in associations.

What tax implications arise from transferring from a personal wallet to an exchange?

The entry of cryptocurrency from a personal wallet or a source outside the network of authorized platforms raises issues of proving ownership, purchase price, and asset origin. The law requires authorized commercial individuals engaged in buying and selling cryptocurrencies to issue electronic invoices even if one party lacks identity information.

The report from the Research Center of the Parliament, which reflects the tax tracking of transfers from personal wallets to exchanges, distinguishes four transaction paths: within one exchange, between two exchanges, exiting from an exchange to a personal wallet, and entering from a personal wallet to an exchange. The further a transaction is from the chain of official invoices, the more difficult it becomes to prove the purchase price and the nature of the transfer.

Transferring between two wallets belonging to one person is not considered a sale from an economic perspective. However, if the system cannot recognize shared ownership, there is a risk of data ambiguity. Keeping records of purchases, TXID, personal addresses, fees, and the purpose of the transfer is essential for resolving potential disputes.

What role do the Financial Information Center and anti-money laundering regulations play?
The Financial Information Center does not regulate the price or technology of blockchain. Its role is to receive and analyze financial reports, identify suspicious patterns, and coordinate the enforcement of anti-money laundering and counter-terrorism financing laws. The Central Bank has also incorporated AML/CFT requirements into the licensing and oversight of cryptocurrency brokers.

For a domestic platform, the minimum operational commitments include:

• Customer and beneficial owner identification;
• Matching bank accounts with user identity;
• Maintaining records of orders, transactions, deposits, and withdrawals;
• Monitoring unusual behavior and reporting suspicious transactions;
• Controlling the source of funds and the origin of cryptocurrency in high-risk cases;
• Responding to information requests from the supervisory authority.

The Financial Information Center announced that it has analyzed the financial performance of 60 cryptocurrency exchanges with extensive turnover; details of this action are included in the report analyzing the financial performance of exchanges and identifying suspicious transactions.

A personal wallet is not inherently equivalent to money laundering. The risk increases when the source of the asset is unknown, the transaction is linked to criminal patterns, a rented account is used, the real identity remains hidden, or the user cannot explain the connection between addresses and their purchases.

What is the relationship between the E-Namad and payment gateways with the Central Bank's license?
E-Namad, payment gateways, and operational licenses are three distinct layers. E-Namad covers the identity and e-commerce requirements of businesses; Shaparak and the banking network control access to rial payments; and the Central Bank issues licenses for cryptocurrency brokers.

The Center for E-Commerce Development at one point called on businesses participating in its self-regulation scheme to register for specialized E-Namad. This action targets issues with gateways or business identification but does not replace the need for a cryptocurrency broker's license.

The Central Bank has also raised the issue of obtaining direct payment services from PSPs or banks for platforms and has limited the use of certain intermediaries. The history of restrictions on gateways and accounts of cryptocurrency exchanges indicates that oversight in Iran has sometimes been implemented through the banking network before the licensing mechanism was completed.

What is the cryptocurrency mining law in Iran?

Cryptocurrency mining in Iran is considered a legal industrial activity if it obtains the necessary licenses and uses permitted energy sources. The Ministry of Industry, Mine and Trade has introduced regulations for cryptocurrency assets, identifying various collaborating entities including the Ministry of Energy, Ministry of Oil, Central Bank, Tax Administration, Customs, Law Enforcement Force, and the National Standard Organization.

Legal activities typically require an establishment license, an operating permit, registered equipment, and a legitimate method of electricity supply. A report by Mihan Blockchain summarizes the legal status and licensing requirements for cryptocurrency mining.

The legality of the industry does not guarantee constant and cheap access to electricity. Tariffs and consumption possibilities can vary with seasons, network limitations, and types of energy supply. In June 2025, the announced tariff for legal mining electricity reached 4,600 tomans per kilowatt-hour; details are provided in the news about the legal mining electricity tariff.

Mining without a license, using subsidized electricity, unauthorized connections, tampering with meters, and maintaining smuggled equipment can lead to power cuts, equipment confiscation, fines, and legal prosecution. The purchase of mined cryptocurrency must also comply with currency and commercial regulations.

Which authority oversees security tokens and tokenized assets? {#%D8%AA%D9%88%DA%A9%D9%86_%D8%A7%D9%88%D8%B1%D8%A7%D9%82_%D8%A8%D9%87%D8%A7%D8%AF%D8%A7%D8%B1_%D9%88_%D8%AF%D8%A7%D8%B1%D8%A7%DB%8C%DB%8C_%D8%AA%D9%88%DA%A9%D9%86%DB%8C%D8%B2%D9%87%E2%80%8C%D8%B4%D8%AF%D9%87_%D8%B2%DB%8C%D8%B1_%D9%86%D8%B8%D8%B1_%DA%86%D9%87_%D9%86%D9%87%D8%A7%D8%AF%DB%8C_%D8%A7%D8%B3%D8%AA%D8%9F}

If the token represents shares, profit rights, debt, investment units, or securities, the Securities and Exchange Organization is the main regulator. Converting a certificate or financial right into a token does not eliminate the nature of securities. Public offerings or creating secondary markets without adhering to the registration and trading laws of securities can be considered violations.

In backed tokens, the type of backing must first be clarified:

• Backing of securities or a collection of investment assets: Securities and Exchange Organization.
• Representation of ownership of physical goods: Ministry of Industry, Mine and Trade or the relevant goods regulator.
• Financial instruments and collateral: National Production Financing Council.
• Backing in rials, foreign currencies, gold, or precious metals with monetary functions: Central Bank.

The Securities and Exchange Organization has discussed drafting a tokenization guideline and the possibility of designing cryptocurrency funds; the report on the organization’s program for cryptocurrency funds and asset tokenization indicates this direction. However, announcing a program does not equate to having a final and usable path for all issuers.

How does a utility token exit the jurisdiction of the Central Bank? {#%D8%AA%D9%88%DA%A9%D9%86_%DA%A9%D8%A7%D8%B1%D8%A8%D8%B1%D8%AF%DB%8C_%DA%86%DA%AF%D9%88%D9%86%D9%87_%D8%A7%D8%B2_%D9%82%D9%84%D9%85%D8%B1%D9%88_%D8%A8%D8%A7%D9%86%DA%A9_%D9%85%D8%B1%DA%A9%D8%B2%DB%8C_%D8%AE%D8%A7%D8%B1%D8%AC_%D9%85%DB%8C%E2%80%8C%D8%B4%D9%88%D8%AF%D8%9F}

A utility token must be designed for receiving goods, services, or privileges within a limited ecosystem. The Central Bank's framework highlights three restrictions: it should not allow peer-to-peer transfers among users, a public exchange market should not be created for it, and it should not be used outside the defined ecosystem.

As the transferability, liquidity, and profit expectations increase, the claim of "utility" weakens. Selling tokens before the product is ready, promoting price growth, or repurchasing at a higher rate can shift legal analysis from access to service towards financing, securities, or cryptocurrencies.

The main ambiguity is the lack of a public and transparent test for composite tokens. Businesses must document the rights of holders, pricing methods, secondary markets, transfer possibilities, redemption methods, and actual usage in the form of a legally classified note before issuance.

What do cryptocurrency advertising regulations say?

The regulations for cryptocurrency advertising were approved on February 13, 2025, and published in 2026. This document ties advertising to the service provider's licensing status and the type of message.

The most important prohibitions include:

• Promising fixed profits or guaranteed price growth;
• Misleading comparisons of the cryptocurrency market with other financial markets;
• Advertising leveraged trading and leveraged tokens;
• Introducing cryptocurrencies as payment tools;
• Advertising cloud mining, investing in mining, and buying/selling mining equipment in the media;
• Advertising the buying, selling, or renting of exchange accounts.

Advertisements must highlight the risks of volatility and the possibility of losing capital and, if necessary, link to the white paper or complete asset information. Details of the prohibitions are included in the report on cryptocurrency advertising regulations in Iran.

Is the list of permitted advertisements the same as the list of licensed exchanges?

No. The regulations have accepted platforms approved by self-regulatory bodies within the scope of advertising for the transition period. In this way, lists for the media have been published. The report on the list of platforms authorized for advertising relates to this situation.

Being included in such a list may provide limited authorization or approval for advertising during the transition period; this status does not itself prove that the platform in question has obtained the final license from the Central Bank for type one or two brokers.

What is the status of smart contracts, NFTs, DeFi, and DAOs?

A general ruling cannot be issued for these four titles:

• Smart Contract: A technical tool for executing an agreement. The legal validity of the outcome depends on the elements of the contract, the identity of the parties, the subject matter of the transaction, mandatory laws, and the ability to prove.
• NFT: It may represent artwork, usage rights, proof of ownership, tickets, investment tools, or even securities. The nature of the rights behind the token is more important than its technical standard.
• DeFi: If the service is practically exchange, lending, deposit-taking, portfolio management, or derivatives, there is a possibility of encountering monopolies and financial licenses; calling the interface or contract decentralized does not change its economic function.
• DAO: It still does not have an independent and public corporate form in Iranian law. The responsibilities of members, representatives, developers, and signatories of the contract must be analyzed with existing structures.

In all four cases, classification should start from <>, not from the name of the technology.

Five Practical Scenarios

Scenario 1: A user buys Tether from a domestic exchange and sends it to a personal wallet

The purchase must be made through a licensed broker, with identity verification and a bank account belonging to the user. The ceilings for stablecoins are applied on the supervised platform. Transferring to a personal wallet is not in itself an internal payment, but the user must keep a record of the purchase and ownership of the destination address. Re-entering the asset into the exchange may subject the source and purchase price to scrutiny.

Scenario 2: A store announces the price of goods in Tether and receives USDT

This model uses cryptocurrency as an internal payment tool and conflicts with the announced prohibition. Issuing a rial invoice after receiving Tether does not necessarily eliminate the cryptocurrency payment nature.

Scenario 3: A Token Issued by a Startup for Cloud Services

If the token is only used within the same system, is not transferable among users, has no secondary market, and does not promise growth or buyback, it is close to a utility token. The addition of free trading or profit changes the classification.

Scenario 4: A Company Tokenizes Ownership of Part of a Building

The token can be a tool for ownership of the asset, securities, or financing. The registration of ownership, voting rights, rental flow, trading possibilities, and the issuer's structure determine the role of the Stock Exchange, the Ministry of Industry, the National Financial Supply Council, or registration authorities. Public offering before determining this path is risky.

Scenario 5: An Individual Mines Bitcoin with Household Electricity

Industrial mining requires permits and authorized energy. Using subsidized household electricity for a mining farm, even if the device is legally purchased, does not legalize the activity.

What remains unclear in 1405?

1. A Unified and Public License List

Users should be able to see the type of license, validity date, permitted services, and suspension status of each broker and custodian in an official reference. The dispersion of industry, advertising, and banking lists increases the risk of misinterpretation.

2. Custodian Entity and Customer Asset Protection

The principle of fiduciary duty is specified, but the bankruptcy mechanism, customer priority, insurance, cold storage, auditing, and deficit compensation need to be more public and comparable.

3. Multi-functional Tokens

A token can simultaneously have utility, trading capability, and income promises. Without a clear classification test, businesses and users face multiple regulators and different interpretations.

4. Tax Implementation in On-chain Transactions

Ownership of multiple wallets, cross-chain bridges, decentralized swaps, network fees, airdrops, staking, and transfers without sales must be clearly defined in the executive guidelines.

5. Enforcement of Stablecoin Caps Outside the Platform

Implementing a purchase cap on domestic exchanges may be possible; however, enforcing a holding cap in self-custody wallets without precise definitions of access, reporting, and technical ownership is a different issue.

6. Responsibility of Decentralized Projects

In the absence of a clear legal personality for DAOs or protocols, determining the responsibilities of user interface, developer, treasury, voter, and liquidity provider remains case-by-case.

Frequently Asked Questions about Cryptocurrency Regulations in Iran

Is Buying Bitcoin Legal in Iran?

There is no general criminal prohibition in the reviewed documents for personal purchase and holding of Bitcoin, but providing buying and selling services requires a license from the Central Bank. Using Bitcoin for internal payments is not allowed, and financial, sanction, and money laundering risks remain.

Do Cryptocurrency Exchanges in Iran Need to Obtain a License?

Yes. The Central Bank Law and the guidelines for cryptocurrency brokers have made the establishment and professional activity of brokers dependent on a license from the Central Bank. The "E-Namad" or industry membership does not replace the broker's license.

Is Holding More Than $10,000 in Tether Prohibited?

The Central Bank has announced a limit of $10,000 for holding stablecoins per unique identifier and an annual purchase limit of $5,000. The scope of implementation is clearly defined for regulated trading platforms; direct implementation in completely personal wallets still requires further technical and legal clarification.

Is transferring cryptocurrency to a personal wallet taxable? {#faq-question-1786252765687}

Transferring between wallets belonging to one person is not considered a sale economically, but proving ownership and purchase price is important. Taxing cryptocurrency gains also depends on the official establishment of the operational framework for the capital gains tax law.

Is selling cryptocurrency to an exchange taxable? {#faq-question-1786252779639}

The law provides a capital gains tax exemption for the sale of assets under paragraph 5 of article 46 by a non-commercial person to a commercial person. The identification of a "permitted commercial person" must be based on a valid license and legal conditions.

Can salaries or the price of goods be paid with Tether? {#faq-question-1786252791430}

Current regulations prohibit the use of crypto assets as a means of domestic payment. Paying salaries, rent, or the price of goods with Tether falls under this same prohibition.

Is mining legal in Iran? {#faq-question-1786252802606}

Mining is legal with a license from the Ministry of Industry, Mine and Trade, using authorized equipment and energy. Mining without a license or using subsidized electricity and unauthorized connections can lead to power cuts, equipment confiscation, and fines.

Does a utility token require Central Bank approval? {#faq-question-1786252813249}

A real utility token used in a closed ecosystem is not necessarily a cryptocurrency. If the token is publicly tradable, transferable, or accompanied by a promise of profit, it may fall under the jurisdiction of the Central Bank, the Securities Organization, or the financial regulator.