IDEAS home Printed from https://ideas.repec.org/p/bfr/econot/415.html

Lessons from a Parallel Economy: Crypto and the Limits of Central Banks
[Les leçons d’une économie parallèle : les crypto-actifs et les limites des banques centrales]

Author

Listed:
  • Roxana Khabazzadeh Moghadam

Abstract

Almost fully isolated from global finance, Iran has turned to crypto-assets to bypass sanctions, building a parallel payment system outside traditional banking, tariff enforcement, and capital controls backed by its central bank. This parallel strategy foreshadows the opacity risks of a fragmented global finance. Presque entièrement isolé de la finance mondiale, l’Iran s’est tourné vers les crypto-actifs pour contourner les sanctions, créant un système de paiement parallèle hors du système bancaire traditionnel, de l’application des droits de douane et des contrôles de capitaux garantis par sa banque centrale. Cette stratégie parallèle préfigure les risques d’opacité d’un système financier mondial fragmenté.

Suggested Citation

  • Roxana Khabazzadeh Moghadam, 2025. "Lessons from a Parallel Economy: Crypto and the Limits of Central Banks [Les leçons d’une économie parallèle : les crypto-actifs et les limites des banques centrales]," Eco Notepad 415, Banque de France.
    • Handle: RePEc:bfr:econot:415
    as

    Download full text from publisher

    File URL: https://www.banque-france.fr/en/publications-and-statistics/publications/lessons-parallel-economy-crypto-and-limits-central-banks
    Download Restriction: no
    File URL: https://www.banque-france.fr/fr/publications-et-statistiques/publications/les-lecons-dune-economie-parallele-les-crypto-actifs-et-les-limites-des-banques-centrales
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bfr:econot:415. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael brassart (email available below). General contact details of provider: https://edirc.repec.org/data/bdfgvfr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.