Iranian Journal of Public Policy

Iranian Journal of Public Policy

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

Document Type : Research Article

Authors
Vahid Mirshafiee 1
Ali Asghar Ghaeminia 2
Mohammad Sadegh Saremi 3
Roohallah Aboojafari 3
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 Assistant Professor, Technology Studies Institute, Tehran, Iran
10.22059/jppolicy.2026.107809
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
Blockchain Policy
Advocacy Coalition Framework
Public Policy
Blockchain
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Iranian Journal of Public Policy
Volume 12, Issue 2
Spring 2026
Pages 166-182