Central Bank of Iraq crypto: What’s Really Happening with Crypto and Central Banking in Iraq

When people ask about Central Bank of Iraq crypto, the official stance of Iraq’s monetary authority on digital currencies, they’re really asking: is crypto banned, ignored, or quietly being tested? Unlike Egypt or Nigeria, Iraq hasn’t issued a loud public ban—but that doesn’t mean it’s open for business. The Central Bank of Iraq, the national institution responsible for monetary policy, currency issuance, and financial regulation has never approved crypto trading platforms, exchanges, or mining operations. In fact, they’ve warned banks not to process crypto-related transactions. But here’s the twist: while the Central Bank of Iraq blocks crypto payments, it’s also exploring its own central bank digital currency, a government-issued digital version of the Iraqi dinar, controlled and backed by the central bank. This isn’t just theoretical. Reports from 2023 and 2024 show Iraqi officials meeting with international fintech firms to study CBDC models from China, Sweden, and the Bahamas.

So why the silence? Unlike countries that make headlines with crypto bans, Iraq’s approach is more about control than conviction. The Iraqi dinar, the official currency of Iraq, managed and regulated by the Central Bank of Iraq has long struggled with instability, inflation, and black-market exchange rates. Many Iraqis already use crypto—not because they love blockchain, but because it’s faster and cheaper than sending money through traditional banks. A worker in Baghdad sending cash to family in Basra might use USDT over a peer-to-peer app because the bank transfer takes days and charges 15%. The Central Bank of Iraq knows this. They don’t need to ban crypto to lose control—they just need to wait for people to get used to it, then offer their own version. That’s the real story behind the quiet.

What you’ll find in this collection isn’t just news about bans or rumors. It’s a look at how central banks in the Middle East handle crypto—not with grand speeches, but with slow, strategic moves. You’ll see how Egypt’s crackdown compares, how the UAE’s 0% tax policy draws in investors, and how blockchain tech is being used legally for land records and customs, even when crypto trading is forbidden. These aren’t random posts. They’re pieces of the same puzzle: governments watching, adapting, and sometimes copying what’s happening on the ground. If you’re curious about where Iraq stands, what it might do next, or how ordinary people are already using crypto despite official silence—this is where you start.