Iran's Central Bank Threatens Crypto Exchange Account Bans Over USDT

The Central Bank of Iran is considering blocking the bank accounts of cryptocurrency exchanges operating with USDT. The regulator plans to restrict access to rial-denominated accounts and payment gateways for platforms suspected of market manipulation.

Creating Artificial Demand for Tether

According to Fars News Agency, exchanges suspected by Iranian authorities of creating artificial demand in the USDT stablecoin market may fall under these restrictions. The regulator believes such operations distort the token's true price and negatively impact the country's foreign exchange market.

Economic Context and Uncertainty

The regulator's initiative comes amidst a record drop in the value of the Iranian rial against the US dollar. The situation is exacerbated by increased pressure on the state's economy. At this time, there is no clarification on the specific list of exchanges subject to inspection, nor the timeline or technical mechanism for the upcoming blocks.