Bitcoin News, Cryptocurrency News, Legal, Regulation, Top Stories

Bitcoin [BTC] Buying & Selling Is Illegal In Iran – Report.

In line with a recent ‘report‘ by native reporting media ‘Tasnim News’, Selling & Buying cryptocurrencies like Bitcoin [BTC] is prohibited in Iran, a senior government official announced.

Nasser Hakimi, deputy governor for new technologies at the CBI [Central Bank Of Iran], aforesaid that bitcoin trading is illegal within the country, citing a linked prohibition by a native AML [Anti-money Laundering] ‘authority‘, the Supreme Council of Combating and Preventing Laundering as well as terrorism funding.

Within an interview with Tasnim News, Hakimi warned the general public against legal and investment risks related to cryptocurrency trading, explaining a high level of associated bitcoin’s volatility. Alongside, the official additionally expressed issues regarding cryptocurrency advertisements, bringing awareness of promoted bitcoin pyramid schemes within the public.

The official has additionally reportedly raised the problems of the needs to draw a distinction between the production of ‘cryptocurrencies‘ and its trading.

Earlier in June, Iranian authorities ‘declared‘ that they are cutting power to cryptocurrency ‘mining‘ till new energy prices are implemented, with a native energy official reporting an abnormal spike of electricity consumption allegedly caused by raised mining of cryptocurrencies. As such, native prosecutors seized around 1,000 bitcoin miners from 2 now-defunct farms later in June, BBC ‘48799155’.

Also on 6th July, Iranian Assistant Minister of industry, Trade, and supply ‘declared‘ that the U.S. Congress is allegedly working to prevent Iran’s access to cryptocurrencies and bitcoin mining in an attempt to stop the country from employing a tool for evading sanctions. As reported earlier, bitcoin investment among Iranians has become progressively popular due to a severe inflation of the native fiat currency, IRR [Iranian rial] amid the nuclear crisis ‘deal‘.

Leave a Comment

Your email address will not be published. Required fields are marked *