مجتبی حیدر

This study investigates the factors influencing individual acceptance of digital currency technology in Iran, a country subject to significant institutional pressures, including foreign sanctions and internal tax pressure. Building upon the UTAUT۲ model, this research integrates external factors, such as institutional theory and inflation, to develop a conceptual model tailored to the Iranian context. A survey of ۳۶۷ traders on digital currency platforms in Iran was conducted using These were analysed using structural equation modelling based on Smart-PLS analysis. The findings reveal a significant moderating effect of inflation factor(IF) on the relationship between performance expectancy(PE) and intention to use(BI) digital currency technology. Furthermore, performance expectancy(PE), tax pressure(TP), inflation factor(IF), and trust(TR) were found to have a significant influence on intention to use(BI) digital currency technology. Contrary to expectations, effort expectancy(EE), perceived risk(PR), and facilitating conditions(FC) were found to be insignificant.

This study contributes to the growing body of literature on digital currency adoption by examining the impact of institutional pressures on user behavior in the Iranian context. The findings highlight the importance of considering the complex interplay between institutional factors, such as foreign sanctions and internal tax pressure, which can lead to high inflation rates and shape individual acceptance of digital currency technology. This research serves as a foundation for future studies on digital currency acceptance and provides insights for policymakers and stakeholders seeking to promote the growth of digital currencies in developing economies.

Key Words: Digital currency, Decentralized Finance(DeFi), Blockchain Technology, UTAUT۲ Model