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GLOBAL CRYPTO & GEOPOLITICS NEWS
Iran’s Supreme Religious Leader has reportedly stated that the country’s government plans to sell certain weapons and military software to other countries, with payments to be made in Bitcoin, Ethereum, and other major cryptocurrencies.
According to reports, Iran is turning to Bitcoin as a way to bypass international economic sanctions that restrict its access to the global financial system, particularly SWIFT. These sanctions have made it difficult for the country to conduct traditional cross-border financial transactions.
Bitcoin was chosen because it operates on a decentralized blockchain network, meaning no single government or authority can shut it down or control it. Its borderless nature allows countries to exchange value directly without relying on centralized financial institutions.
As a result, Iran and its trade partners are expected to settle transactions using Bitcoin and other leading cryptocurrencies, avoiding conventional banking channels altogether.
This move is not entirely new. Russia has also been reported to use Bitcoin in oil trade transactions with various countries as an alternative payment method amid financial restrictions.#BTC