Iran’s government is moving toward regulating cryptocurrencies rather than imposing outright bans, according to Abdolnaser Hemmati, Minister of Economic Affairs and Finance. Speaking at a national event on Saturday, Hemmati emphasized the importance of mitigating crypto’s economic risks while harnessing its potential benefits. He highlighted its role in fostering youth employment, countering U.S. sanctions, and integrating Iran into the global economy.

The Central Bank of Iran (CBI) echoed this sentiment by unveiling plans to establish new cryptocurrency policies. These measures aim to support crypto traders while ensuring compliance with tax and anti-money laundering regulations. Economist Mohammad Sadegh Alhosseini noted that Iranian investors collectively hold between $30 billion and $50 billion in crypto assets—approximately one-third of the nation’s gold market.

The announcement comes as pro-crypto sentiments rise globally. In the U.S., President-elect Donald Trump has signaled a positive regulatory approach, appointing crypto advocate Paul Atkins to lead the Securities and Exchange Commission. Iran’s shift reflects the growing acknowledgment of cryptocurrencies as a strategic economic tool.