Iran’s central bank has banned the country’s banks from dealing in cryptocurrencies. FILE PHOTO | NMG
Summary
- Iran’s central bank has banned the country’s banks from dealing in cryptocurrencies, including Bitcoin
- The country is trying to halt a currency crisis
- US President Donald Trump will decide by May 12 whether to restore US economic sanctions on Tehran, which would be a severe blow to the 2015 pact between Iran and six major powers.
Dubai
Iran’s central bank has
banned the country’s banks from dealing in cryptocurrencies, including
Bitcoin, over money-laundering concerns, the state news agency IRNA
reported on Sunday as the country tries to halt a currency crisis.
“Banks
and credit institutions and currency exchanges should avoid any sale or
purchase of these currencies or taking any action to promote them,”
IRNA said, quoting a central bank circular based on a ban on
cryptocurrencies passed by Iran’s anti-money laundering body in
December.
All-time low
Iran moved this month to formally unify its official and open
market exchange rates and banned money changing outside of banks, after
its currency, the rial, plunged to an all-time low on concerns about a
possible return of crippling sanctions.
US President
Donald Trump will decide by May 12 whether to restore US economic
sanctions on Tehran, which would be a severe blow to the 2015 pact
between Iran and six major powers.
He has pressured European allies to work with Washington to fix the deal.
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