From Iran to North Korea: The Dubious Economies That Rely on the Crypto Market

Prime Minister Benjamin Netanyahu said in an interview that Israel needs to organize a 'circumvention economy' using crypto. The article surveys countries that have already implemented this model: Iran, North Korea, Russia, China, and terrorist organizations. In Iran, the 'shadow economy' reaches 20%-30% of GDP. In North Korea, about $600 million in crypto was stolen in 2026. In Russia, a ruble-pegged stablecoin was launched.

Tomer Shamai's article examines economies that rely on the crypto market, following Prime Minister Benjamin Netanyahu's remarks about the need for a 'circumvention economy' in case of banking sanctions. The article surveys several countries: In Iran, the 'shadow economy' is estimated at 20% to 30% of GDP, and about 100,000 out of 180,000 mining servers were owned by government entities. In North Korea, hackers stole about $600 million in the first four months of 2026. In Russia, the stablecoin A7A5 was launched, designed to bypass sanctions, with over $100 billion transferred through it. In China, crypto laundering networks processed $16.1 billion in 2025. The article also notes the use of digital assets by declared terrorist organizations, including ISIS, Al-Qaeda, Hamas, Hezbollah, and Islamic Jihad.