The Tehran Stock Exchange is one of the most important financial markets in Iran, serving as a platform for buying and selling shares of companies and securities. However, with the increasing spread of digital currencies and their acceptance worldwide, the Tehran Stock Exchange has also been affected by the changes resulting from the emergence and expansion of this market. This article examines the effects of digital currencies on the Tehran Stock Exchange. On the one hand, the increasing attractiveness of digital currencies as a new investment tool has changed the behavior of investors in the stock exchange and may lead to a decrease in the volume of trading in the stock exchange. On the other hand, severe price fluctuations in the digital currency market can affect the psychology of investors in the stock exchange and bring new risks. The Tehran Stock Exchange usually has high price fluctuations, which can be caused by economic, political, and social factors. Some restrictions, such as legal and regulatory restrictions, may affect transactions. The use of cryptocurrencies is being pursued for a number of scientific and economic reasons, including increased liquidity, portfolio diversification, high return potential, blockchain technology, global reach, reduced transaction costs, responsiveness to new needs, data and algorithm analysis, and economic and political developments. As a result, this study shows that a proper understanding of the effects of cryptocurrencies on the Tehran Stock Exchange can help investors make better decisions and manage existing risks. In addition, there is a need to formulate appropriate policies and regulations to coordinate between these two markets.