Within a somewhat bizarre move from the CBI ‘Central Bank of Iran’, trading of cryptocurrency mined outside the country has reportedly been banned.
In line with an official announcement earlier on Thursday by a news media outlet, Iran International, the ban attempts to stymie capital flight from the country that would be attributed to the consequences of its depreciating national currency, the rial.
That’s consistent with Fatemeh Fannizadeh, Swiss qualified independent practitioner and attorney at law, who spoke on the matter via Twitter earlier today on Friday.
Iran has already banned the utilization of crypto assets for payments, while the country’s financial institutions are liberal to use cryptocurrency, derived from sanctioned miners, to buy imports.
How precisely the central bank intends to manage the inflow of fungible cryptocurrency from outside the country’s borders still remains unclear for now.