Document Type : Original Article
Authors
1
Associate Professor, Department of Political Science, Faculty of Law and Political Science, Ferdowsi University of Mashhad, Mashhad, Iran.
2
M.A. Student of Political Science, Department of Political Science, Faculty of Law and Political Science, Ferdowsi University of Mashhad, Mashhad, Iran.
10.22067/irlip.2026.94712.1692
Abstract
Cryptocurrencies have rapidly gained popularity in Iran due to growing public interest and technological advances. Yet, the country lacks a coherent and structured regulatory framework to govern this dynamic sector. This study analyzes Iran’s cryptocurrency policy using the public policy cycle model, including agenda setting, formulation, decision-making, implementation, and evaluation. It aims to identify the philosophical and doctrinal underpinnings of Iran's regulatory approach.Applying a documentary-institutional method and a mixed-methods strategy, the research integrates qualitative content analysis with quantitative trend observation. Findings reveal a fragmented and reactive policy environment, with government interventions lacking strategic coherence. This has led to uncertainty among users, investors, and market actors. The study highlights institutional pluralism as a key challenge: various state bodies—such as the Central Bank, Ministry of ICT, and Supreme Council of Cyberspace—hold conflicting views, resulting in overlapping responsibilities and implementation inefficiencies. In contrast, non-governmental actors—tech startups, researchers, and informal users—have played an increasingly active role in shaping real-world outcomes, underscoring the significance of bottom-up innovation in tech policy. Current policies neither effectively manage risks such as money laundering and capital flight nor capitalize on the innovative potential of cryptocurrencies. To address this gap, the study proposes a comprehensive, context-sensitive framework including: a central regulatory authority, a national strategy, inclusive stakeholder participation, institutional capacity-building, and regular evaluation. The research concludes by emphasizing the need for a clear philosophical orientation—whether security-driven, market-based, or a balanced hybrid—that aligns with Iran’s socio-political context. It offers both theoretical insight and practical guidance for enhancing the governance of emerging financial technologies in Iran, contributing to broader global debates on digital currency regulation
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