The Iranian Central Bank has banned the use and transaction of cryptographic currencies for all domestic banks, including Bitcoin, regarding concerns about illegal money laundering activities.
"Banks, lending institutions and stock exchanges have banned the sale and purchase of these currencies," the state news agency IRNA announced.
A law banning the use of cryptographic currencies was adopted in December.
Formally this month, Iran stopped the money exchange outside the banks after the rial coin fell rapidly.
President Donald Trump will decide on May 12 if he will restore American sanctions against Tehran, a move that would be a blow to the pact between Iran and the six major powers in 2015.
What do you think about The Iranian Central Bank crypto currencies ban?
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The more the US issues sanctions, the more the crypto community grows.
Probably not what they intended.
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All forms of repression, including US sanctions and Iran's repressive regime, push people to crypto. Although I think the huge mess the Iranian economy is in is a bigger factor than US sanctions.
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Its interesting that attitudes to cryptocurrencies are directly related to the level of repression of a country's government. The more repressive a government the more it regulates against cryptocurrencies.
This is because cryptocurrencies create freedom for the people.
Lets hope that the Iranian people will be freed from this regime soon and be able to enjoy the freedom that cryptocurrencies bring.
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