Iran's government operates a $7.8 billion cryptocurrency shadow economy to facilitate international trade amid sanctions. This crypto infrastructure also serves as a crucial financial lifeline for ordinary Iranians during protests and economic crises.
Eleven US senators have called for a federal investigation into Binance's sanctions compliance and anti-money laundering controls. The request follows reports of Iran-linked transactions on the platform and concerns about potential sanctions evasion risks.
The FBI has designated Iran as a State Sponsor of Wrongful Detention on February 27, citing cases including Robert A. Levinson, a retired FBI special agent. This escalates tensions between the US and Iran, potentially increasing geopolitical risks that could impact global markets.
Crypto mixer usage has rebounded to near pre-ban levels following the 2022 Tornado Cash sanctions, reaching 32,000 transactions in 2025. Research shows the crackdown primarily deterred legitimate privacy-seeking users while criminals adapted by migrating to alternative platforms and methods.