Bitcoin and other cryptocurrencies fall sharply following Iran’s attack on Israel.
Iran News
Iran — also known as Persia or, officially, the Islamic Republic of Iran — is a sovereign state in Western Asia. Iran is one of the richest Asian countries, as it is the 18th economy by the volume of national production. In 2017, Bitcoin in Iran was considered as an alternative currency because the government wanted to ban U.S. dollars after the U.S. had imposed a ban on entry for seven Arabic states, including Iran. However, according to Iran’s Bitcoin regulation which were issued in 2017, work with cryptocurrency is prohibited for all financial establishments and exchanges. According to Iran’s central bank, cryptocurrency is used for the financing of terrorism, money laundering and making transactions between the criminals.
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A Telegram admin for BingX claims that the exchange “has no problem with Iranian users, and it is even possible to authenticate with a national card.”
48158According to the report, Europe is home to nine of the 10 least profitable countries for Bitcoin mining, based on household electricity costs.
15855The Central Bank of Iran progresses with CBDC development in anticipation of a visit by the Bank of Russia’s governor Elvira Nabiullina.
8516Anatoly Legkodymov, founder of China-based crypto firm Bitzlato, was arrested under suspicion of money laundering related to illicit Russian finance.
6003The potential stablecoin aims to enable cross-border transactions instead of fiat currencies like the U.S. dollar, the Russian ruble or the Iranian rial.
47108Judicial rulings require Iranian authorities to release a part of the 150,000 crypto mining equipment previously seized due to energy concerns.
8342Andrew Fierman highlighted the nuances of sanctions depending on who is involved, what is at stake and where they’re coming from.
7622Iran’s plan to freeze bank accounts reinforces the need for decentralized currencies to exist with cash and CBDCs.
10201The U.S.-based crypto exchange has agreed to pay more than $362,000 as part of a deal “to settle its potential civil liability” related to violating sanctions against Iran.
5696The crypto rial has been in preparation for years; its introduction comes on the heels of the country’s introduction of cryptocurrency for foreign trade.
4036Iran has decided to legalize the use of crypto in cross-border payments, which could impact how some countries view crypto.
5734The Office of Foreign Asset Control sanctioned 7 Bitcoin addresses allegedly connected to Iranian nationals Ahmad Khatibi Aghada and Amir Hossein Nikaeed Ravar.
2647Iran’s Trade Ministry has approved the use of cryptocurrency payments for imports in a bid to bolster trade in the country.
4483Corporate lobbyists urge the government to create a proper infrastructure and avoid the emergence of business rent.
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