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Story summary
- Iranians use informal exchangers and cryptocurrency to bypass U.S. sanctions.
- Currency traders match Iranian sellers with foreign buyers, adding fees, exchange-rate costs, and delays.
- Private person-to-person transfers rely on trust, exposing users to fraud and lost funds.
- OFAC sanctioned Iranian crypto exchanges Nobitex, Wallex, Bitpin and Ramzinex earlier this year.
- Alireza Yaghoubi warned crypto transactions are traceable and can trigger sanctions on wallets.