1 year ago

Yesterday, on April 22, The CBI’s supreme committee, also in charge of curbing money laundering and fighting capital flight in Iran, has issued a circular prohibiting banks and other national financial institutions from trading bitcoin and other cryptocurrencies.

“Virtual currencies can be used for money laundering, terrorism support and for payments among criminals,” the official statement of the Central Bank of the country says. The ban is an extension of anti-laundering agency’s ban passed in December.

Iran, meanwhile, has been exploring the development of its own state-issued cryptocurrency, similar to Venezuela’s oil-backed El Petro, for a while.