Iran

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$2.5 Billion Sent Out of Iran to Purchase Cryptocurrencies

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The chairman of the economic committee of Iran’s parliament has revealed that Iranians have sent more than $2.5 billion out of the country to purchase cryptocurrencies with. His statement follows the country’s central bank banning local banks from dealing with digital currencies including bitcoin. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space $2.5 Billion … Read more

Bitcoin Price Watch – Currency Drops to $8,900

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Bitcoin has fallen by roughly $400 and is now trading for $8,900. Yesterday, we discussed potential resistance between the $9,000 to 9,300 range, and now that speculation is crossing into reality, though it’s unclear if the currency is slated to stay here for much longer. Prior to the drop came a bitcoin trading ban in … Read more

Iran Forges Ahead with Its Experimental National Cryptocurrency

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Various central banks have shown a keen interest in creating their own digital currencies. Doing so is very different from drafting a whitepaper about it. It now seems most countries have put those plans on ice indefinitely, though Iran is an exception. That nation has decided to experiment with a new cryptocurrency, even though the trading of actual … Read more

Iran’s Decision to Ban Banks from Dealing with Cryptocurrency Is Unwise

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Iran, which was heavily affected by the sanctions imposed by the US on the country and its businesses in January, has banned the only alternative payment method that local businesses and individuals could use to bring money in and out of the nation. Why Did Iran Ban Cryptocurrency? On April 23, the central bank of Iran effectively … Read more

Iran Continues to Develop State Cryptocurrency Despite Central Bank Ban

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Iran has been developing its own cryptocurrency, a project which has yielded an experimental local crypto, despite the country’s central bank banning banks from dealing with cryptocurrencies. Iran’s Information and Communications Technology Minister has shed light on the project, commented on its alleged use to evade sanctions, and clarified the central bank’s action. Also read: Yahoo! … Read more

Central Bank of Iran Bans Banks from Crypto

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Iran’s central bank has issued a statement banning the country’s banks and financial institutions from dealing with cryptocurrencies such as bitcoin, citing money laundering and terrorism financing risks. However, the local crypto community in Iran believes that the ban will not affect them and some exchanges continue to operate normally. Also read: Russian Regulators Draft Law … Read more

Government of Iran Bans Foreign Fiat Currency Exchanges

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It appears that the Iranian people are losing trust in the rial as it continues to depreciate in value. In response, the government of Iran is trying to prevent them from getting their hands on foreign currency, providing another example of the need for bitcoin. We should expect to see a growth in local bitcoin … Read more