TechFlame News: According to Bloomberg, a report by Elliptic reveals that the Central Bank of Iran has purchased over $500 million worth of dollar-pegged digital assets in the past year to address its currency crisis and circumvent U.S. sanctions. The analytics firm stated that the Iranian central bank conducted two USDT purchases in April and May 2025, with the initial funds flowing to an Iranian cryptocurrency exchange where users can hold, trade USDT, or convert it into rials. The report notes that due to restricted oil exports, an inability to repatriate export earnings, and exclusion from the SWIFT system, Iran's foreign exchange reserves continue to decline, impairing the central bank's ability to defend the rial's value and curb inflation. The use of stablecoins helps Iran establish a "sanction-resistant" banking mechanism and create a "shadow financial layer" capable of holding dollar value without oversight from U.S. authorities. Previously, a Chainalysis report indicated that Iran's cryptocurrency ecosystem grew to approximately $7.78 billion in 2025.