Iranians 'flocked' to crypto amid geopolitical tensions in 2024 as exchange outflows surged 70% to $4.2 billion: Chainalysis
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Iranians 'flocked' to crypto amid geopolitical tensions in 2024 as exchange outflows surged 70% to $4.2 billion: Chainalysis
Description
Crypto outflows from Iranian exchanges surged to $4.2 billion in 2024, up 70% year-over-year. Sanctioned jurisdictions received $15.8 billion in crypto last year, making up 39% of illicit transactions, and discusses the broader impact of OFAC sanctions.
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5:00am, Wednesday, February 19, 2025
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OFAC sanctioned jurisdictions dominate illicit Crypto flows in 2024 with $15.8B
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Global compliance efforts have also reduced foreign crypto exchange exposure to Iranian services by 23% between 2022 and 2024
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The increasing use of Iranian crypto exchanges suggests that more individuals and institutions are resorting to crypto to safeguard wealth and circumvent financial restrictions,” Chainalysis said
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