Iran Stops Using US Dollar, Could Become Next Major Bitcoin Market
On Jan. 29, the governor of the Central Bank of Iran Valiollah Seif officially announced during a national television interview that the US dollar will no longer be used within the country as a response to US President Donald Trump’s controversial temporary travel ban on certain countries including Iran. According to the official statement of the Iranian central bank and Seif, the government intends to terminate the usability of US dollars in Iran and replace USD with a stable reserve currency that is more frequently used in foreign trades. Currently, the central bank of Iran are exploring....
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As Iran plans to scrap the use of US dollar as reserve currency, there are speculations of it being replaced by Bitcoin. Iran could pave the way for the adoption of Bitcoin as a foreign reserve currency. The reports of Iran moving away from US dollar as the preferred reserve currency in retaliation to the travel ban issued by Trump administration has led to this speculation. Until recently, Iran has been under sanctions for its nuclear program. With the sanctions relaxed last year, there were signs of trade and diplomatic relations between Iran and the United States returning to normalcy.....
Iran’s currency has lost between 60% and 70% of its value against the US dollar. One of the country’s largest banks collapsed last December. And now, nearly half a billion dollars in cryptocurrency tied to the Iranian government has been seized by the United States. Related Reading: XRP Could See Fresh Demand As Japan’s Rakuten […]
The US-Iran war continues to linger with the two countries yet to reach a deal, and US President Donald Trump is threatening new strikes against Iran. Amid this, Iran has moved to launch a Bitcoin-backed service as it looks to assert control over the Strait of Hormuz. U.S.-Iran War In Focus Amid Trump’s Threat and New Bitcoin Service According to a Reuters report, US President Donald Trump has threatened that a new US attack on Iran could happen in the coming days if both sides fail to reach a deal. This came amid his revelation that he was close to ordering a strike against Iran earlier....
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 […]
Advertisements for Auroracoin, the Icelandic cryptocurrency, have begun to appear at bus stops all around the country. The advertisement, consisting only of “Auroracoin” in text and the coin’s logo on a white background. The advertisements are part of a public awareness campaign by the Auraráð, or Auroracoin, Foundation. According to Pétur Árnason, Auraráð Foundation chairman, these advertisements are meant to lay the groundwork for a resurgence of the Icelandic cryptocurrency later this year. “We have been preparing for Auroracoin promotion in Iceland for over a year now as we wanted to....