“Iran Unchained” launched a simplified version of its platform, created to send cryptocurrencies to anti-government activists in Iran, where compliance laws make donations difficult.
The NGO’s “V2” site is a fork of the crypto fundraising platform Gitcoin that allows donors outside the US to bypass fundraising limits and send money directly to activists’ wallets. The site’s founder is trying to keep funds hidden from the Islamic Republic of Iran while proving to the US Treasury that his crypto donations do not fund illicit causes.
Iran Unchained was launched in January 2023, a few months after the death of a young woman in police custody sparked protests against the Islamic Republic of Iran. The NGO organizes grant applications from Iranians with the overall goal of overthrowing the Islamic Republic and installing a secular government in its place.
Soleimani’s fundraising platform combats what he calls “overcompliance” in the fiduciary realm, where banks and funding platforms shut down compliant donations to Iran to completely avoid liability when dealing with the status sanctioned by OFAC. An anti-censorship group called Free Internet for Iran was removed from GoFundMe for opaque reasons before turning to Iran Unchained, Soleimani said.
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However, the NGO still has to follow compliance laws. Iran Unchained is registered as a nonprofit in Wyoming and submits quarterly reports to OFAC ensuring it is on the right side of sanctions laws.
“The logistical challenge for Iran Unchained is how to safely send money to beneficiaries inside Iran, while protecting them from the Islamic Republic and providing enough documentation to the US Treasury to convince them that we are not sending money to terrorists. “Soleimani said.
The funds have been earmarked for internet provision, humanitarian aid, NFTs from Iranian artists, and sending Iranian developers to Ethereum conferences.
Iran Unchained grants are voted on by a decentralized autonomous organization (DAO) made up of Soleimani’s Iranian friends. Grants that pass governance are listed on the NGO’s homepage along with crypto wallet addresses where donors can send funds directly.
Cross-border aid is a popular use case for cryptocurrencies. Ether flooded Ukraine’s crypto wallet following the 2022 Russian invasion, and Crypto Aid Israel raised $185,000 in just over a week following the October 7 attacks.
