Bitcoin, Other Cryptocurrencies Not Recognized in Iran: Central Bank


Iran announce bid to create own digital currency

The move would see Iran follow in the footsteps of Venezuela, which like Iran, is also under USA sanctions.

As per local news resources Iran Front Page, the Central Bank of Iran says it has never recognized bitcoin or some other digital currency as an official money in the nation.

According to the report, bank officials have also said they were working in close co-operation with other institutions to develop a mechanism to control and prevent the use of cryptocurrencies in Iran.

For its part, El Aissami highlighted that several suppliers over the world showed interest in receiving part of the payment through the use of the Petro, that due to the impact caused since its launching already appears among the 10 most attractive cryptocurrencies worldwide. However, the U.S. Security and Exchanges Commission has been increasingly tracking digital currencies, classifying some tokens as securities, thus making them subject to oversight.

"In a meeting with the board of directors of Post Bank on digital currencies based on the blockchain, I ... prescribed ... measures to implement the country's first cloud-based digital currency", Jahromi said, according to a rough Bing translation.

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After Venezuela created its own cryptocurrency, similar step thought in Turkey.

Despite Maduro's enthusiasm, Opposition leaders have described the cryptocurrency as an illegal debt issue, and investors have questioned its value given concerns about Venezuela's solvency and transparency. We delivered updated information to Minister Anton Siluanov about our cryptocurrency, "Delgado tweeted".

"The world is moving towards a new digital system".

Responding to the interest by countries sanctioned by the United States and European Union, Mati Greenspan, a senior market analyst at social trading firm eToro, called cryptocurrencies an "excellent idea". "They both have a high dependence on the price of crude oil, which has been rather unstable in the last few years".

Just one day after the commencement of the controversial petro-presale, Maduro made waves once again, announcing that he plans to unveil a second cryptocurrency next week: the petro gold.

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