The Iranian rial has sharply depreciated to 1,470,000 against the US dollar, reflecting a severe economic crisis amid 42.2% inflation. In response, Iran's Ministry of Defense has begun accepting cryptocurrency payments for military exports, marking a strategic shift towards digital financial systems. This move is part of Iran's broader strategy to circumvent international sanctions and maintain economic resilience.
Meanwhile, the rollout of Iran's digital rial (CBDC) has failed to stabilize the economy, as public distrust in the fiat currency persists. The CBDC's centralized control and surveillance capabilities have driven citizens towards decentralized cryptocurrencies, exacerbating capital flight. As geopolitical tensions rise, Iran's potential for digital retaliation through blockchain disruptions poses a significant risk to global financial systems.
Iran's Rial Plummets as Cryptocurrency Payments Gain Traction
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