Iran has been under sanctions from the U.S. and other international bodies since 1979. A letter warned about Iran’s use of crypto to fund attacks against Israel. The letter cited a report stating that the Iranian government preferred using “newly minted” Bitcoin as it is “less traceable.” Additionally, it was reported that Bitcoin miners in Iran generated $1 billion in revenue in 2021.
US Senators Express Security Concerns Over Iran’s Cryptocurrency Mining Sector
