Tag Archives | cryptocurrencies

Iran’s Currency Tensions spur Crypto Ban

By Maziar Motamedi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Last week, Iran joined the growing list of nations to crack down on cryptocurrencies. But why did it choose this approach? Why now? What consequences will it have? As is the case with most […]

Iran’s Banks Banned from dealing in Cryptocurrencies

By John Lee. The Central Bank of Iran (CBI) has reportedly banned other banks from dealing in crypto-currencies. According to BBC News, the move comes on concerns that the technology could be used illegally, for money-laundering and financing terrorism. Earlier this month, Iran moved to formally unify its official and open market exchange rates, and […]

Cryptocurrencies could offer Iran way around Sanctions

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Post-sanctions integration in the international financial sector has been one of the main challenges in the Iranian economy since the implementation of the Joint Comprehensive Plan of Action in January 2016. As such, one could […]

Iran could create its own “Energy Coin”

By John Lee. Iran could release crypto-currencies backed by oil and gas, according to a report from Trend. It quotes Sam Barden (pictured), Director of financial technology company SBI Markets, as saying: “Bitcoin would be secure, have intrinsic value, unlike the USD, and create direct trade between partners without the need for third party settlement. This […]

Iran “Intends to Legalize Bitcoin”

By John Lee. The Iranian government reportedly intends to legalize the crypto-currency Bitcoin as a legal tender. Iran’s Minister of Information and Communication Technologies is quoted by Novinite as saying that his ministry has carried out research to prepare the necessary infrastructure for the use of Bitcoin. He said that he believes that the legalization of […]

Swedish Govt Authorizes Firm to Invest in Iran through Bitcoins

The government of Sweden is reported to have authorized a local business to create a mechanism based on a globally popular virtual currency to transfer funds to Iran. The move is already believed to have the potential to facilitate investing in the Islamic Republic where transferring money in and out became complicated as a result […]

Swedish Firm Accepts Deposits in Bitcoin for Iran Biz

Swedish Firm Accepts Deposits in Bitcoin to Facilitate Business with Iran A Swedish company has come up with an innovative solution which both bypasses US sanctions and does away with the need for banks to process transactions with Iran, a report said. Brave New World Investments AB is reportedly accepting deposits in bitcoin which it […]

Bitcoin “Can Help Revitalize Iran’s Economy”

An American political analyst has said the Bitcoin payment network can help the Islamic Republic of Iran develop both its domestic and foreign economy, adding that the system could “create many jobs” across the country. “I can see the possibility over the next few years of a few hundred million or maybe a few billion […]