--- title: "Iran Just Made a $10 Million Import Order Using Crypto" description: "Iran has purchased $10 million worth of imported goods using cryptocurrency — a move that could evade American trade sanctions." date: "2022-08-09" modified: "2022-08-09" authors: - name: "Noor Al-Sibai" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/nooralsibai" url: "https://futurism.com/the-byte/iran-crypto-order-sanctions" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "crypto" - "iran" - "sanctions" - "the digest" --- # Iran Just Made a $10 Million Import Order Using Crypto ![Iran has purchased $10 million worth of imported goods using cryptocurrency — a move that could evade American trade sanctions.]() *\Image: Getty Images\* ## Evasion Iran has purchased $10 million worth of imported goods using cryptocurrency — a move that could allow the country to evade US sanctions. So far, not much is known about the crypto order first [announced by the country's Tasnim news agency](). For one, we still don't know which specific cryptocurrency was used or what the large purchase order entailed. The import order could only be the beginning. Iranian trade official Alireza Peyman-Pak [tweeted]() that "by the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries," as translated by Google. Iran is also [slated to launch a crypto version of its Rial currency]() later this month. The political implications are considerable. As *Reuters* points out, this purchase may evade the near-complete embargo the United States has placed on Iran. ## Crypto Kingdom This is far from the first time Iran's crypto endeavors have made headlines. A 2021 [report from the blockchain analytics firm Elliptic]() found that 4.5 percent of all Bitcoin mining worldwide took place in Iran due to the country's cheap electricity costs. Those activities led to the country's [government blaming crypto miners]() for crashing its electrical grid and [subsequently banning]() the practice altogether. The fact that Iran is using cryptocurrencies as a way to evade sanctions is nothing new. Most recently, [a *Reuters* investigation]() found that crypto wallet company Binance was aware that Iranians were using its service in spite of sanctions. Unlike [El Salvador]() and the Central African Republic, Iran has not declared any cryptocurrency as official legal tender — but given this purchase and the planned rollout of the crypto Rial, that's not out of the question. **READ MORE:** [Iran Places First Crypto-Funded Import Order, Worth $10M: Report]() \[*Coindesk*\] **More crypto governance:** *[FBI Offers Huge Reward for "Cryptoqueen" Accused of Stealing $4 Billion]()* ## Author At Futurism, I've often been drawn to unpacking the narratives that underlie technological, scientific and medical progress, with a special interest in areas of conflict and ambiguity that end up setting agendas and steering the fates of both elites and the hoi polloi. I'm a committed generalist, but I often find myself returning to work involving NASA and the private space sector, the effects of AI on media and society, and the mechanics of the pharmaceutical industry, with a specific focus on the spread of GLP-1 drugs like Ozempic and Wegovy. Prior to Futurism, I worked for publications ranging from Media Matters and Truthdig to Raw Story and Bustle. I'm also the author of "Myspace Scene Queens," a 2024 title in Instar Books' acclaimed "Remember the Internet" series. My work at Futurism has been cited by outlets including the New Yorker, Slate, Nieman Lab, the Verge, the MIT Technology Review, the Sunday Times, and the Daily Beast. I grew up in North Carolina, attended the University of North Carolina at Asheville, and now live in Brooklyn, New York. In my free time, I'm an avid reader and music fan; you can probably find me at a local poetry reading, concert, underground rave, or DJ set. I'm the proud parent of an ineffable orange cat named Mee-Mow. ### Author social links [Bluesky]()