Asset Tokenization Policy in Iran: An Analysis of Policy Conflicts through the Advocacy Coalition Framework

Document Type : Research Article

Authors

1 Ph.d. Student of Public Policy, Faculty of Law and Political Science, University of Tehran, Tehran, Iran

2 Ph.d. of Islamic Economics, Faculty of Economics, University of Tehran, Tehran, Iran

3 Ph.d. of Business Policy, Technology Studies Institute, University of Tehran, Tehran, Iran

4 Ph.d. of Science and Technology Policy, Technology Studies Institute , Imam Sadiq University , Tehran, Iran

Abstract

The use of blockchain for asset tokenization has become widespread in recent years. This technological diffusion has generated policy conflicts between entrenched financial and monetary authorities and innovators. This study aims to examine the conflict. Data were gathered through semi-structured interviews with key stakeholders, media content analysis, and a review of policy documents, and were analyzed via thematic analysis. The findings show two main coalitions: a restrictive–regulatory coalition, comprising the Central Bank of Iran and the Securities and Exchange Organization, and a development-oriented coalition, composed of the Ministry of Economic Affairs and Finance, the Ministry of Industry, Mine and Trade, the Vice-Presidency for Science, Technology, and Knowledge-Based Economy, and private-sector actors. The results indicate that policy learning has been the pro-development coalition’s principal strategy for advancing and implementing its agenda. The study fills an empirical gap in the public policy literature on asset tokenization and tests the Advocacy Coalition Framework’s capacity to analyze technology policy across differing political contexts.

Keywords

References

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Iranian Journal of Public Policy
Volume 12, Issue 2
June 2026
Pages 152-168

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