Iran Said to Bar Banks in Bitcoin Market

Fearing the possible illicit use of cryptocurrencies in money laundering and terrorist financing, the Central Bank of Iran (CBI) sent out a round on Sunday to prohibit the usage of this technologies in financial institutions, the nation’s national news agency reports.   Iran’s anti-money laundering body in December, 2017 , passed the announcement, made public yesterday .

The country’s  Information and Communications Technology Minister, as an example, shown which  Iran’s central bank has been growing.

Released at Mon, 23 Apr 2018 13:30:26 +0000
It remains unclear to what extent the central bank is able to block domestic cryptocurrency activities given the availability of the technology and the supportive views.

In comments   from last November, the secretary of the Iran’s cyberspace authority went so far as to state the state “welcomes” bitcoin, given there are appropriate regulations.
The publication warns:

And before, deputy director of new technologies, Central banker Naser Hakimi, made comments it intends a overview of its policies and bitcoin is being studied by the central bank. His announcements however, were concentrated on the “uncertainty” and “risk” caused by cryptocurrency speculation in the industry.

Iran’s financial businesses shouldn’t cope in bitcoin or other cryptocurrencies, as stated by the nation’s central bank and one of its principal market regulators.
According to the report, currency trades and banks, credit institutions must avoid the sale or purchase of cryptocurrencies, in addition to taking any actions to market them.

The chief in blockchain news, CoinDesk is a media outlet that tries for the highest journalistic standards and standards by a strict series of editorial policies. CoinDesk has been an independent subsidiary of Digital Currency Group, which excels in blockchain startups and cryptocurrencies.

Iran map image via Shutterstock