Many individuals and businesses in these regions turn to cryptocurrency to preserve wealth, move funds across borders, and circumvent government-imposed financial controls — an adaptation we have identified in Iran
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Chainalysis
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Sanctioned jurisdictions account for 39% of illicit crypto transactions in 2024
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A Chainalysis report found that Iranians turned to cryptocurrency as a means to preserve wealth, amid economic instability and restrictive controls, driving a 70% surge in exchange outflows reaching $4.2 billion in 2024
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Chainalysis report states that in 2024, expanded US sanctions targeted the financial infrastructure of illicit activity, pushing sanctioned nations to increasingly rely on cryptocurrency to preserve wealth, sustain trade and bypass government controls
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