Central Bank Bans Advertising of Unlicensed Cryptocurrency and Payment Businesses

The Central Bank has prohibited the advertising of unlicensed financial and payment activities across all media by issuing a new directive. This restriction applies not only to banking and exchange activities but also encompasses areas such as payment systems, innovative financial technologies related to payment instruments, and cryptocurrencies.

According to Mihan Blockchain, the Central Bank's Board of Directors has approved the executive directive for the advertising of supervised entities, which has been communicated to the banking network through circular number 136314/05 dated August 28, 2026. Under the new regulations, even businesses that hold a Central Bank license can only advertise if they comply with the stipulations set forth in this directive.

One of the most significant aspects of the new directive is the prohibition of advertising by individuals and legal entities without a Central Bank license. Accordingly, the publication of any advertisement in the media benefiting businesses that operate in areas such as banking operations and services, exchanges, leasing, payment systems, innovative financial technologies related to payment instruments, and cryptocurrencies without obtaining a license will be prohibited.

This prohibition is not limited to traditional media; the term "any media" in the directive encompasses a broad range. Additionally, advertising in media declared unauthorized by competent authorities will also be prohibited.

The new directive was approved in a meeting of the Central Bank's Board of Directors on August 10, 2026, and consists of 21 articles and 3 notes.

The restrictions outlined in this directive are not limited to the advertising of unlicensed businesses. The advertising of certain financial services and activities has also been explicitly prohibited.

Examples of activities that cannot be advertised include:

• Buying and selling loans and obtaining loan privileges
• Various bank deposits
• Licenses for the establishment and operation of supervised entities
• Account leasing
• Activities of unlicensed individuals in banking, exchange, payment, financial technologies related to payment instruments, and cryptocurrencies

The Central Bank has also specified the instances of advertising violations and the process for addressing them in this directive.

The prohibition on advertising unlicensed financial activities is not a new issue in Iranian regulations and traces back to the law of the Central Bank of the Islamic Republic of Iran.

According to Article 39 of this law, the publication of any advertisement, announcement, or promotional action through state, private, domestic, or foreign media benefiting individuals who engage in activities covered by Clause (a) of Article 37 without obtaining a Central Bank license is prohibited.

Clause (a) of Article 37 also conditions activities such as banking operations and services, exchanges, leasing, and activities in the payment system on obtaining a license from the Central Bank.

In the field of financial technologies and cryptocurrencies, Article 59 of the Central Bank law holds this institution responsible for regulating matters related to payment systems, innovative financial technologies related to payment instruments, and cryptocurrencies.

The Central Bank law also provides enforcement measures for media that advertise unlicensed individuals contrary to the established prohibitions.

According to Article 39, media violations of this ruling may result in fines up to 10 times the revenue generated from the advertisement or the maximum penalty for a third-degree fine, whichever is greater.

On the other hand, the Central Bank is also required to supervise the content of advertisements by licensed supervised entities. If this institution issues a written order to halt an advertisement, media and individuals or legal entities responsible for the advertisements are obliged to stop it.