[Report: Iran's Central Bank Purchased Over $500 Million in Crypto Assets Over the Past Year to Address Rial Crisis] According to Bloomberg, an Elliptic report reveals that Iran's central bank purchased over $500 million worth of dollar-pegged digital assets over the past year to address its currency crisis and circumvent U.S. sanctions. The analytics firm stated that the central bank conducted two USDT purchases in April and May 2025, with the initial funds directed to an Iranian crypto exchange where users could hold, trade USDT, or exchange it for rials. The report highlights that due to restrictions on oil exports, the inability to repatriate export revenues, and exclusion from the SWIFT system, Iran's foreign exchange reserves have been steadily declining, impairing the central bank's ability to defend the value of the rial and curb inflation. The use of stablecoins helps Iran establish a "sanction-resistant" banking mechanism and create a "shadow financial layer" that holds dollar value and operates outside the oversight of U.S. authorities. Earlier reports from Chainalysis indicated that the scale of Iran's cryptocurrency ecosystem grew to approximately $7.78 billion in 2025.