Iranian Central Bank Won’t Accept Cryptocurrency

February 23, 2018

The Central Bank of Iran has withdrawn from pro-bitcoin statements voiced by the government earlier and is trying now to avoid any use of cryptocurrency.

As the press reports, the bank is now collaborating with other institutions in developing new mechanism to control and prevent using digital currencies in Iran.

Iran was said to accept cryptocurrencies in November last year. At that time the High Council of Cyberspace regulatory body made it plain, there must be rules set for safe use of such assets in accordance with various judicial fields worldwide.

“We welcome Bitcoin, but we must have regulations for Bitcoin and any other digital currency... following the rules is a must,” claimed Secretary Abolhassan Firouzabadi.

As a result, this week Iranian minister voiced his plans on establishing state cryptocurrency. Online commentators aptly found correlations between this scheme and possible violation of international sanctions amid similar Venezuelan plan of using its own Petro token for attracting foreign funds.

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