Iran has not established a specific licensing framework for cryptocurrency and digital asset businesses as of 2025–2026; instead, digital asset activities are governed indirectly through general sanctions, trade, and financial regulations administered by the Office of Foreign Assets Control (OFAC) and the Bureau of Industry and Security (BIS) Federal Register :: Publication of Iran-Related Web General Licenses U and V

The primary regulatory bodies are the U.S. Department of the Treasury's OFAC, which administers the Iranian Transactions and Sanctions Regulations (ITSR) at 31 CFR Part 560, and the Department of Commerce's BIS, which administers export controls under Section 746.7 of the Export Administration Regulations (EAR) Federal Register :: Iranian Transactions and Sanctions Regulations

No entity has been granted a license to operate a cryptocurrency exchange or digital asset business in Iran under the U.S. regulatory framework; OFAC issues only temporary, transaction-specific general licenses (such as GL U, GL V, and GL X) for crude oil, petroleum products, and petrochemicals — not for digital assets Issuance of Iran-related General License | Office of Foreign Assets Control

The practical reality is that any crypto-related activity involving Iran is subject to a comprehensive U.S. sanctions regime that generally prohibits unauthorized transactions, with very narrow exceptions limited to humanitarian communications-related software and services Iran export controls | Bureau of Industry and Security

There is no Iranian domestic licensing authority for digital assets identified; the applicable legal framework is extraterritorial U.S. sanctions law, meaning a "license" from relevant U.S. agencies is required for lawful engagement Federal Register :: Iranian Transactions and Sanctions Regulations

The Office of Foreign Assets Control (OFAC) is the principal regulator for transactions involving Iran, operating under the Department of the Treasury and publishing licenses and regulations on its website at https://ofac.treasury.gov Federal Register :: Publication of Iran-Related Web General Licenses U and V

The Bureau of Industry and Security (BIS) of the Department of Commerce regulates exports to Iran under Section 746.7 of the Export Administration Regulations (EAR), requiring licenses for most items on the Commerce Control List (CCL) Iran export controls | Bureau of Industry and Security

The primary law is the Iranian Transactions and Sanctions Regulations (ITSR), codified at 31 CFR Part 560, which was reissued in its entirety on October 22, 2012 (77 FR 64664) and has been amended several times since, including a final rule effective May 17, 2024 (89 FR 43311) Federal Register :: Iranian Transactions and Sanctions Regulations

Additional relevant regulations include the Iranian Financial Sanctions Regulations (31 CFR Part 561), Iranian Sector and Human Rights Abuses Sanctions Regulations (31 CFR Part 562), Weapons of Mass Destruction Proliferators Sanctions Regulations (31 CFR Part 544), Russian Harmful Foreign Activities Sanctions Regulations (31 CFR Part 587), Ukraine-/Russia-Related Sanctions Regulations (31 CFR Part 589), and Global Terrorism Sanctions Regulations (31 CFR Part 594) Federal Register :: Publication of Iran-Related Web General Licenses U and V

Executive orders governing Iran-related sanctions include E.O. 13876 of June 24, 2019 ("Imposing Sanctions With Respect to Iran"), E.O. 13902 of January 10, 2020 ("Imposing Sanctions With Respect to Additional Sectors of Iran"), and E.O. 13949 of September 21, 2020 ("Blocking Property of Certain Persons With Respect to the Conventional Arms Activities of Iran") Federal Register :: Publication of Iran-Related Web General Licenses U and V

The United States is not a FATF member, and no information on Iran's FATF or Moneyval status is available in the current regulatory framework; the relevant international standing concern is that Iran is subject to comprehensive U.S. sanctions Iran export controls | Bureau of Industry and Security

OFAC has authority to issue general licenses (GLs) through the ITSR, including the authority to publish them on the Federal Register and on OFAC's website, as demonstrated by GL D, GL D-1, GL D-2, GL U, GL V, and GL X Federal Register :: Iranian Transactions and Sanctions Regulations

A license from BIS is required to export or reexport most items on the Commerce Control List (CCL) to Iran pursuant to Section 746.7 of the EAR; this includes technology and software that may be relevant to digital asset infrastructure Iran export controls | Bureau of Industry and Security

If OFAC authorizes the export or reexport of an item subject to the EAR, no separate BIS authorization is required for that same item, as the OFAC authorization is considered authorization for purposes of the EAR Iran export controls | Bureau of Industry and Security

A BIS license may still be required even with OFAC authorization for deemed exports (transfers of controlled technology and certain software to Iranian nationals in the U.S. or a third country), exports to persons on BIS's Entity List, and exports for prohibited end uses per Part 744 of the EAR Iran export controls | Bureau of Industry and Security

No license exceptions may be used for exports or reexports to Iran of items subject to the EAR, meaning the general licensing exceptions available for other destinations are not applicable Iran export controls | Bureau of Industry and Security

The licensing policy for Iran is that applications for humanitarian reasons and for the safety of civil aviation and safe operation of U.S.-origin aircraft will be considered on a case-by-case basis; licenses for other purposes generally will be denied Iran export controls | Bureau of Industry and Security

OFAC has issued specific general licenses for limited purposes: GL U (issued March 20, 2026) authorized the sale, delivery, or offloading of crude oil or petroleum products of Iranian origin loaded on vessels on or before March 20, 2026, through April 19, 2026; GL V (issued April 24, 2026) authorized the wind down of transactions involving Hengli Petrochemical (Dalian) Refinery Co., Ltd., through May 24, 2026; GL X (issued June 22, 2026) authorized the production, delivery, and sale of crude oil, petrochemical products, and petroleum products of Iranian origin through August 21, 2026 Federal Register :: Publication of Iran-Related Web General Licenses U and V

GL D-2, issued September 23, 2022, authorized the export and reexport of certain services, software, and hardware incident to communications over the internet, including cloud-based services, social media platforms, collaboration platforms, video conferencing, e-gaming, e-learning platforms, automated translation, web maps, and user authentication services, but this does not extend to digital asset services Federal Register :: Iranian Transactions and Sanctions Regulations

The application process for OFAC licenses involves submitting an application to OFAC, which may require a BIS commodity classification to support the application for certain items; OFAC's Assistant Director for Licensing can be contacted at 202-622-2480 Federal Register :: Iranian Transactions and Sanctions Regulations

No capital requirements, monetary thresholds, or structural requirements (such as board composition or local presence) are specified for any type of license related to Iran; minimum capital for OFAC or BIS licenses is not established Iran export controls | Bureau of Industry and Security

Zero entities have been licensed to conduct cryptocurrency or digital asset business in Iran under any framework described; no such license has been announced or published by OFAC or BIS Issuance of Iran-related General License | Office of Foreign Assets Control

The timeline for license processing is not specified, though GL U (one month), GL V (one month), and GL X (approximately two months) are time-limited authorizations, indicating that general licenses are issued for defined, short durations Federal Register :: Publication of Iran-Related Web General Licenses U and V

No specific AML/KYC requirements, including customer due diligence (CDD), enhanced due diligence (EDD), suspicious transaction reporting (STR), record retention, beneficial ownership identification, or politically exposed person (PEP) screening requirements, have been published for cryptocurrency or digital asset businesses operating in Iran

OFAC's general licenses contain conditions, such as those in GL D-2 that restrict the exportation of web-hosting services and domain name registration services, which suggests that licensees must comply with specified conditions and limitations, but no explicit KYC/AML obligations are stated in the published text Federal Register :: Iranian Transactions and Sanctions Regulations

Prohibitions on exports to persons on BIS's Entity List and for prohibited end uses (Part 744 of the EAR) function as a form of counterparty screening obligation, requiring licensees to ensure they are not transacting with prohibited persons or for prohibited purposes Iran export controls | Bureau of Industry and Security

For any digital asset business dealing with Iran, standard OFAC compliance mechanisms would apply, though the absence of explicit KYC/AML rules in the regulations should be noted as a gap

No specific enforcement actions, penalties, fines, arrests, or cases related to cryptocurrency or digital asset activities involving Iran have been published

The regulations reference general sanctions enforcement authorities, including violations of the EAR for exporting items subject to the EAR without a required OFAC authorization, "even if the transaction would not have required a license from BIS," indicating that failure to obtain OFAC authorization is itself a violation Iran export controls | Bureau of Industry and Security

GL V was issued to authorize the wind down of transactions involving Hengli Petrochemical (Dalian) Refinery Co., Ltd., which implies that Hengli Petrochemical was designated or sanctioned under E.O. 13902, but no enforcement action against a digital asset entity is described Federal Register :: Publication of Iran-Related Web General Licenses U and V

The references to E.O. 13876 (June 24, 2019), E.O. 13902 (January 10, 2020), and E.O. 13949 (September 21, 2020) indicate that these authorities have been used to impose blocking sanctions on persons and sectors, but no specific enforcement cases involving crypto entities are listed Federal Register :: Publication of Iran-Related Web General Licenses U and V

The wind-down authorization in GL V, expiring May 24, 2026, suggests enforcement pressure had been applied to the relevant entity, but no fines, penalties, or arrest details are provided in the regulations Federal Register :: Publication of Iran-Related Web General Licenses U and V

The expiration of GL U on April 19, 2026, and the subsequent issuance of GL X on June 22, 2026, indicate that unauthorized transactions after license expiration would be subject to enforcement, but no specific enforcement action is described Issuance of Iran-related General License | Office of Foreign Assets Control

No tax guidance has been issued for virtual assets; none of the referenced documents from OFAC, BIS, or the Federal Register address the taxation of cryptocurrency or digital assets in Iran

The regulations are exclusively focused on sanctions, export controls, and licensing under U.S. law; there is no discussion of Iranian domestic tax law, including income tax, capital gains tax, or value-added tax (VAT) treatment of digital assets Federal Register :: Iranian Transactions and Sanctions Regulations

No Iranian tax authority, tax code, or tax regulation is referenced in any of the published regulatory documents Issuance of Iran-related General License | Office of Foreign Assets Control

The absence of any tax-related provisions in the general licenses (GL U, GL V, GL X) suggests that tax treatment of authorized transactions is not addressed within the sanctions licensing framework Federal Register :: Publication of Iran-Related Web General Licenses U and V

For U.S. persons involved in any authorized Iran-related transaction, U.S. federal tax obligations would apply by default, but no analysis or guidance on this point is available in the current framework Iran export controls | Bureau of Industry and Security

There is no comprehensive or specific regulatory framework for cryptocurrency and digital asset licensing in Iran; the only "licensing" available is under U.S. sanctions law for narrow, non-digital-asset purposes Federal Register :: Publication of Iran-Related Web General Licenses U and V

No entity has obtained a license to operate a cryptocurrency exchange, custody service, or other digital asset business involving Iran, and no pathway for obtaining such a license is evident Issuance of Iran-related General License | Office of Foreign Assets Control

The licensing policy states that licenses for purposes other than humanitarian reasons and civil aviation safety "generally will be denied," meaning a digital asset business license application would almost certainly be rejected Iran export controls | Bureau of Industry and Security

The absence of AML/KYC requirements creates significant legal uncertainty for any business attempting to engage with Iran's digital asset space, as there is no formal compliance framework to follow Federal Register :: Iranian Transactions and Sanctions Regulations

The overlapping jurisdictions of OFAC (ITSR at 31 CFR Part 560) and BIS (EAR Section 746.7) create compliance complexity, as a business may need authorizations from both agencies, with separate requirements for deemed exports, Entity List screening, and end-use verification Iran export controls | Bureau of Industry and Security

No license exceptions are available for Iran, eliminating the standard relief mechanisms found in other sanctions programs Iran export controls | Bureau of Industry and Security

The temporary nature of general licenses (GL U expiring April 19, 2026; GL V expiring May 24, 2026; GL X expiring August 21, 2026) demonstrates that even authorized activities are time-limited and subject to reversal or non-renewal, creating severe business continuity risks Issuance of Iran-related General License | Office of Foreign Assets Control

The terms "digital assets" and "cryptocurrency" do not appear in the regulatory framework, indicating that the regulations have not been updated to address this asset class specifically, leaving it to be governed by general sanctions provisions that were not designed for digital assets Federal Register :: Iranian Transactions and Sanctions Regulations

The lack of tax guidance for virtual assets creates additional uncertainty for any business considering engagement, as the financial implications of authorized transactions cannot be properly assessed Federal Register :: Publication of Iran-Related Web General Licenses U and V

The practical reality is that engaging in cryptocurrency or digital asset activities involving Iran carries extreme legal risk, with no clear licensing pathway, no compliance guidance specific to digital assets, and a licensing policy that presumptively denies non-humanitarian applications Iran export controls | Bureau of Industry and Security

Federal Register :: Publication of Iran-Related Web General Licenses U and V

Issuance of Iran-related General License | Office of Foreign Assets Control

Federal Register :: Iranian Transactions and Sanctions Regulations

Licensing | Bureau of Industry and Security

Iran export controls - Licensing

Federal Register :: Publication of Covid-Related Web General License Related to Iranian Transactions and Sanctions Regulations and Global Terrorism Sanctions Regulations

eCFR :: 31 CFR Part 560 Subpart E -- Licenses, Authorizations, and Statements of Licensing Policy

Federal Register :: Publication of Iranian Transactions and Sanctions Regulations Web General License P

U.S. Treasury Issues Iran General License D-2 to Increase Support for Internet Freedom | U.S. Department of the Treasury