Iran
Iran says it has asked India and other BRICS members to use digital assets to settle trade, seeking a workaround to US and UN sanctions. Officials and business leaders frame the approach as a pragmatic response to restricted access to global payment rails.
Bitcoin mining in Iran, largely driven by state-linked entities like the IRGC and Chinese partners, intensifies the country's energy shortages by consuming vast amounts of electricity, much of it subsidized or free. Despite official recognition and licensing since 2019, around 85% of mining remains illegal, worsening power outages and impacting domestic needs.
Iranian cryptocurrency exchange Nobitex, recently hacked, is set to restart withdrawal services beginning with verified users, signaling progress towards full recovery.
The hacker group Gonjeshke Darande claimed responsibility for a $90 million theft from Nobitex, Iran's largest cryptocurrency exchange. The stolen assets were transferred and burned with political messages against Iran's Revolutionary Guard, highlighting political motives amid rising regional tensions. Nobitex confirmed the breach and the incident raises concerns over crypto's role amid international sanctions.