Iran Reportedly Bans Trading Of Bitcoin Mined Abroad
The Central Bank of Iran has reportedly banned its citizens from trading bitcoin mined outside of the country in an attempt to stop capital flight.According to an announcement shared by Iran International, the Central Bank of Iran (CBI) has banned its citizens from trading bitcoin and other cryptocurrencies mined in foreign countries.Fatemeh Fannizadeh, a Swiss qualified independent lawyer and advisor on blockchain technology and cryptocurrencies, believes this move by the CBI is an attempt to stop capital flight from Iran.“Crypto is already regulated in Iran … this just means that Iran....
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According to a news report by Iran International, the Central Bank of Iran (CBI) has banned its citizens from trading bitcoin and other cryptocurrencies mined in foreign countries. Regulators Have Issued Thousands Of Licenses For Mining According to a tweet from news organization Iran International, Iran’s Central Bank announced a Cabinet decision on Wednesday requiring […]
Iran, which required bitcoin miners to obtain official authorization in the country, has now reportedly banned the practice.
A difficult-to-enforce ban may actually be part of a larger sanctions-avoidance strategy. In a broader effort to circumvent the effects of sanctions, Iran may be attempting one of the first instances of digital currency protectionism. According to a Tweet from news outlet Iran International, The Central Bank of Iran announced a decision from the Cabinet on Wednesday decreeing that digital currencies traded in the country must have been mined, or “extracted” there as well, barring the exchange of digital assets mined abroad.While many observers have pointed out that enforcement would be....
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A crypto warning list is the main cause of the ban, according to the head of the Iran Blockchain Community. The Ministry of Interior of the Islamic Republic of Iran has blocked the activities of the Iran Blockchain Community (IBC), but the association claims they still haven’t received direct notice.The Social Affairs Organization of the Ministry required reports on IBC’s financial performance and dealings with cryptocurrency exchanges via a notice posted in local newspaper Hamshahri Online last week, according to local sources. Over the weekend, the ministry blocked the association’s....