Identification of 350 Cryptocurrency Activists with a Turnover of 150 Trillion Tomans

The Financial Information Center of the Ministry of Economic Affairs and Finance has identified 350 individuals active in the cryptocurrency market with a turnover exceeding 150 trillion tomans. These individuals do not have tax files and have been referred to the tax authority. Additionally, 18 cryptocurrency exchanges with a total transaction volume of over 584 billion tomans have been identified as suspicious due to potential connections with gambling and high-risk activities. Since 1403 (2024), the Financial Information Center has identified high-risk patterns in the buying and selling of cryptocurrencies and provided criteria for detecting suspicious transactions to industry associations. In the operational phase, the account turnover and the number of users of the exchanges have been examined, and a rial profile has been created for the identified exchanges. Accounts suspected of money laundering have been identified and blocked in cooperation with the Central Bank. Furthermore, the names of individuals with suspicious banking transactions have been placed on a list of suspects, and banking restrictions have been imposed on them. In June of this year, the Financial Information Center presented a 9-point package to the authorities for organizing the cryptocurrency market, which includes conditional licensing for exchanges and the establishment of a blockchain monitoring unit.

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