Iran: towards censorship of cryptocurrency platforms

in #crypto6 years ago


The economic crisis is rife in Iran and causes an inflation rate of up to 127%. This scourge is not the only concern of the country. A new wave of government censorship related to cryptocurrencies rages on the Iranian community, an anonymous spokesman said.

https://twitter.com/steve_hanke/status/1013833682187116544

Crypto-currency exchange platforms are prohibited


Many users have reported having difficulty accessing crypto-exchanges such as Binance and LocalBitcoin , even using Virtual Private Networks (VPNs) and other alternatives to circumvent international sanctions.

"Many use it as a hedging instrument, because buying the BTC is easier than going to the black market to buy US dollars," says the anonymous spokesman of the Iranian community of virtual currencies.

"Cryptocurrency exchange services in Iran have been filtered since May."
It seems that the government wants to prohibit access to crypto-scholarships before the renewal of US sanctions in August and November.

Ahmad Khalid Majidyar, the project director IranObserved from the Middle East Institute, addressed the media saying:

"President Rohani does not want Iranians to transfer virtual currencies, especially via the dollar, abroad. "

"If diplomacy weakens, it would mean there are more restrictions, and cryptocurrencies would certainly be affected as well. "
Analysts believe that Iran's current economic crisis is linked to international relations . As a result, national regulatory authorities have sought to establish stricter restrictions within the cryptocurrency industry. Especially since a search on 200 users of cryptocurrency made by CoinDesk demonstrated that the vast majority were using emerging technology for cross-border payments .

Although it may seem severe, the crypto-purse censorship was long overdue. The Iranian Anti-Money Laundering Organization has formally banned financial institutions in the country from using digital currencies.

Mohammad Reza Pourebrahimi , chairman of Iran's parliament's economic committee, says Iranian cryptocurrency traders are hurting the nation's economy when they invest in international decentralized markets.

Iran could have become a Bitcoin supporter


The country was on track in its quest for blockchain development last year. Moreover, the International Business Times reported that in February 2018, many Blockchain companies were actively working with the country's regulators to develop a legal financial structure around cryptocurrencies .

However, the Iranian digital currency community is still hopeful. It only remains to see how international relations will affect the future of Iran's crypto-markets.

What do you think of the censorship of cryptocurrency exchange services in Iran? How long will this situation last? Comment in the comments section below.

 

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