Economic Crisis Escalates in Iran: Currency Collapse Triggers Nationwide Unrest

Iran is grappling with its most severe wave of protests in years, with at least 7 confirmed deaths reported as tensions escalate over the country's deepening economic crisis.

The turmoil began when electronics retailers across Tehran shuttered their shops to protest the collapse of the local currency. What started as a commercial shutdown quickly snowballed into broader civil unrest as citizens grapple with deteriorating purchasing power.

The government's response has been twofold: offering food vouchers worth around $5 to offset rising living costs, while simultaneously hiking taxes by 53%—a move that has further strained household finances and business operations. This contradiction hasn't gone unnoticed by residents, fueling frustration over policy effectiveness.

The currency depreciation reflects deeper structural economic challenges, prompting many to seek alternative value stores. Such episodes historically drive interest in decentralized finance solutions and digital assets as hedges against local currency instability, particularly in emerging markets experiencing macroeconomic stress.