Bitcoin Forum

Iran banned the use of bitcoin and other cryptocurrencies by banks and financial institutions on Monday amid ongoing debate over how best to regulate the technology. "The use of bitcoin and other cryptocurrencies in all the country's monetary and financial centres was banned," the central bank said in a statement overnight.

just an opinion, preferably if you want to create a thread about a country please include also Link of the news, to make this news more accurate and reliable  ;)
because there are many circulated news is a fake news.

its basically a memo/reminder

that banks cannot directly handly crypto.. just like they cannot directly handly beanie babies, or tobacco.. the only thing banks can directly handle is FIAT..

standard memo, no law change. its just a reminder.
it does not affect private businesses or citizens.. iranian people can still handle bitcoin. but you will not be seeing a bitcoin ATM or a beanie baby vending machine in a iranian bank branch

so relax folks. its not FUD news nor fake news. its just a reminder of standard practice that has been going on for decades

Well every country has their own issues, but since Iran Banks believes more on "All altcoin can be turned to money that can lead to money-laundering and believes that it can finance terrorism with their weapons and can be used as a way to transfer money from criminals to others" then I think they have right to ban it.

they are not banning it.
stop reading titles/headlines and reacting.. learn to research

its a reminder that banks themselves cannot handle crypto directly. just like you wont find beanie babies, tobacco, or socks bing sold in a bank.. its standard memo remindr about something that banks cannot and never have been able to do..

however
private businesses and citizens can use crypto

First of all, bitcoin is not banned in Iran. People are still allowed to use Cryptocurrencies.
Second, They have not right. Because they should know bitcoin and change their belief.

This shows us that banks are scared for themselves. They know that if they let crypto grow it has the potential to put them out of business. People still can find alternative ways to trade even with cash or anything else. Banks got to comfortable over the decades they've ruled and with no other system to offer something better they have forgot how to fight and move forward.  With the Internet we now have many ewallets and they are all the idea to get out of banks,  but banks are in the background which is very important.  With cryptocurrency we don't need them at all.

I don't see this Iranian banks policy is different to other countries.
They ban Bitcoin and other cryptocurrencies as currencies, but not ban them as assets.
Iran is a country which welcomes technologies, it must be a big issue if they ban cryptos.
Nothing new about the statement of the central bank.

It does affect the people who are planning to invest in the market, but there might not be a ban in trading as no one could ban them as it is a decentralized global market but in order to deal and trade cryptocurrencies you need to purchase the coins with fiat currency or you need to mine the coin as it is not possible with everyone.

Banks or other financial institution cannot use cryptocurrencies, to begin with - cryptomarket is an unregulated mess (unlike stock exchanges market).
Without proper fails-safe investing in highly volatile asses could be really dangerous - so it is more of a good thing that Iranian government confirmed that now.
I am still a bit worried that general public might see this simple reminder as the first step towards a creating hostile law regulating cryptocurrency.

This is good news, because the people should use bitcoin and crypto currencies peer to peer without the banks. And if the banks not use it, then we can built two separate markets. The fiat money robbing system and the crypto currency system. And to be honest, we crypto coin users need the people who still use the fiat money to finance the state budget of a country.

   There is intense interest in Bitcoin and crypto currency in the world. But states are not optimistic. Some countries reveal their reactions. He forbids Bitcoin. China, India, Iran, a few of them.
   Bitcoin and the crypto money revolution can not be prevented. The arrow came out of the bow. The countries are in vain to resist. I think they're making secret preparations. Even if they reveal their reactions, they know. Crypto money is the future of the world. They have to change their behavior. They have to. They need to keep up with the Changing World. Otherwise they will stay behind.

I agree, this is a non-news. Which bank in the world is actually using cryptocurrencies? I guess none. They just only use FIAT. So this is just a confirmation of the status quo. A non-news.

BANKS cannot trade crypto

no where did the circular mention citizens or businesses

EG BANKS cannot trade beanie babies. thats why you dont se beanie babies being sold in a bank.. it does not mean beanie babies are banned from bing sold or bought by businesses or citizens..

please read beyond the title of a topic and understand the wording of the actual "news".
its nothing to worry about and just a reminder that BANKS will not have a bitcoin ATM, or a beanie baby or a tobacco stand inside a bank branch. all they can handle/trade is fiat.

the sooner this community stop just reading titles of topics and creating fud. by actually understanding the real details. the sooner the fud calms down and stops circulating and things go back to usual

I think this is the article regarding this topic, The ban is part of the country's efforts to stabilize its currency, in the face of potential US sanctions.

Iran bans banks from cryptocurrency trading (http://www.alphr.com/cryptocurrency/1009156/iran-cryptocurrency-trading-ban-bitcoin)
http://cdn1.alphr.com/sites/alphr/files/styles/16x9_640/public/2017/11/bitcoin2x_what_is_it.jpg?itok=BsEl8lO9 (http://www.alphr.com/cryptocurrency/1009156/iran-cryptocurrency-trading-ban-bitcoin)

nope
thats a crypto website, misquoting a reuters website, misquoting a IRNA website, misquoting a memo it received from CBI

I still consider it as news, and not just this Iranian but also another for Macau Authority. Here is the link in the discussion thread: https://bitcointalk.org/index.php?topic=3377013.msg35424293#msg35424293. Those kind of news still influence the market, at least for now we can see the resistance created that possibly some of the reasons are the news. However beside fundamental analysis, technical part also says the same thing for resistance at around 9000 USD.
So this Iran ban banks is influencing the market right now but I think the influence still bigger from beginning of April by entering "Giant" people into cryptocurrency. And in middle of May, there will be coindesk convention that usually impacted positively to the market.

We need to respect what is there decision, but the countries ban the bitcoin is increasing and I think this is alarming. They didn't see the good value of Bitcoin to the people. I wish in my country don't ban the bitcoin.

There is a normal resistance at 9000 dollar. And look at the price change during the past 48 hours. There is no fall in price. So this news from Iran has not affected bitcoin price.

That's unfair, why do governments keep doing this..they should at least bear the need of their citizens in mind before taking drastic actions. Instead of banning cryptocurrency completely,  why not accept it and then set up a regulation to make it work. At least,  with regulations,  there will be limitations to something which can be done and things that can't be done. Cryptocurrency have really helped enhance the life of most people,  they shouldn't take it away.

The ban on state finance is a lot of countries forbidding, but I do not think the ban has much impact on the effects of bitcoin prices at the moment, and I hope the ban is only temporary.

Iran just like India in the past week does not really have influence on the bitcoin economy. But one would understand that an Iranian government that is so anti-people cannot embrace bitcoin, so good for them, but by the time they wake up from their slumber, the world would have left them behind and they might have to play catch up which would be very costly

You never can tell, it might affect it.

Found a suitable link: https://www.coindesk.com/iran-said-bar-banks-bitcoin-market/

This is like what the RBI in India released: banks and other financial institutions cannot work directly with bitcoin and any trades conducted using a bank to pay for bitcoin or to receive payment that came from bitcoin is prohibited, but the citizens can still hold bitcoin and there's no ban regarding that. While this may sound negative at first (well it does, obviously), still there are no further bans regarding cryptocurrency use. The government is just limiting the avenue in which illegal money could go, so there's that.

in my opinion iran can not regulate technology because bitcoin and other digital currency is a technology in financial institutions and bitcoin is a very advanced technology and has a high security and can make transactions between countries quickly so that in the business and trade turnover is very profitable.

You seriously never can tell, it might really affect it. Though the population of bitcoin enthusiasts that invested in cryptocurrency in Iran might not that much,  but it can still cause a little or more shake in the price of bitcoin. We can see from what happened when bitcoin activities and restrictions happened in China and in India.  So there is every tendency that it will affect it.

I don't think this news shall have any impact as one can easily use the currencies outside the country. Also I don't think Iran has a major share of crypto currency, what these fools don't understand is you can ban but not stop. Instead they should take their taxes and be happy why create unnecessary melodrama? I haven't seen any impact on the prices don't think it'll happen to.

you can at this point because this news is old, even when this topic was started it was rather old and as you can see from the price history now (and also by that time) this news had no effects on price whatsoever. and news like this are not known to have any effect on bitcoin when a small country with no prior affiliation with bitcoin does something to it not to mention this was not even a major thing.

do you have source? well it was sad to know do you have link for article about this topic? i must review it because i dont know why they are banning bitcoin.

They will hardly make any impact with a population of only 80,28 million people. If you just look at one of his neighbouring countries, Pakistan with 193,2 million people, you would see how insignificant they are. I personally think it is a very bad decision in view of the constant international sanctions against their country.

Bitcoin is one way for them to have a bit more financial freedom, but what else did you expect from a autocratic government?  

the reasons for different countries are different in this regard. It is natural that the Iranian state forbids banks from making crypto transactions. we know in the middle east there is often a war today. Of particular concern is transactions using crypto that are abused for terrorism financing as well as money laundering

I think that the Iranian government is very afraid of the crypto currency because then they will lose control over the banking sphere.

Iran is a country who has many trade restriction around the globe and if they could understand the real value of bitcoin and other similar currencies in the market they will adapt it without thinking twice because this can change their fortunes and the sanctions imposed upon them will have little or no effect in a realistic sense and if they could understand the true potential they will make use of this evolution.

Iran has small economy compared to other middle east counties, it will not affect crypto significantly, however, I am sure even though they banned it, people will find their way to buy the coin, as lots of ppl from China use VPN to buy and sell crypto.

Who cares.. they’ll be back. Iran citing money laundering as a reason is absurd, unless of course you decode it to: “Oppressive regime bans currency they cant control and manipulate”. I suppose this is getting old now. Apologies.

In April 2012, the media reported on Iran's plans to disconnect from the Internet and create its own network instead. Later, the authorities denied rumors about a possible disconnection from the World Wide Web. However, work on creating an internal network continues.

At the same time, Iranian Internet users often shut down access to popular foreign resources. So, according to the BlockedInIran service, in May, Facebook, MySpace, the Russian service of creating free Narod.ru sites, some pornographic sites and other resources were not opened from Iran.

In early April, the site of the London Olympics was blocked, the logo of which was previously indignant with the Iranian authorities.

Of the 75 million people living in Iran, 36 million have access to the Internet.

The Iranian government is now sure that more.
I am still concerned that the general public can see this simple reminder such as the first step of an anti-reaction law controlling cryptocrown.
This affects people who are planning to invest in the market, but trade may not be banned,
I do not see the Iranian bank policy different from other countries.
They have been banned as Bitcoin and other cryptocoarture coins, but are not banned as their resources.

another lame FUD and fake news shared by a newbie that doesnt know thats this forum is the place of an open minded crypto users. if you want to share this kind of a fake news, you should to try it on social media like a facebook or twitter, theres a lot of dumb people that interesting about your information. sorry if im little bit mad, but this kind of thread is annoying

The central government is right that the use of crypto currencies in any country’s monetary and financial institutions was banned but still lacking here are few countries like japan , South Korea who has legalised bitcoin in their nation and is using bitcoin and other crypto currencies as a mode of transactions and moreover a American city, Florida as also legalise bitcoin and allowing bitcoin as a mode of payment in tax payment system and there is again a news that Iran has also banned crypto currencies from their nation, I think all countries needs to understand the real potential of bitcoin and its potential to increase the country’s development.

whatever the reasons for Iran, there is a trend into making it difficult for crypto currencies to prosper. The ban is an extension of anti-laundering agency's ban passed in December. While Iran's situation is more volatile than China's, the objective is likely the same.

Iran bans the use of bitcoins and crypto currencies by banks and other financial institutions with a fear that people will invest more on crypto currencies and that the value of fiat currency of the country could come down as a result of people using crypto currencies in the country. In order to increase the supply and demand of traditional currency the Government took the decision to stop using crypto currencies in banks and other financial institutes of the country, another reason for doing this is because bitcoin and crypto currencies are decentralized in nature and  the Government or no authority has control over the crypto currency network.

Its just a conservative approach, it will take a while before countries like Iran will be open to crypto.

Doesn't matter, they can't buy anyway. All exchanges have them on a "dont and cant" list of country.

Among the reasons Iran bans the bank to use cryptography is that all cryptographic currencies have the ability to be a way to money laundering and payment of violence and can generally be converted into a way to transfer cash to criminals.Many Iranian people see the huge capabilities of digital currencies as a way of dealing with problems related to international sanctions and the difficulties that the poor and poor state banks face.

It's not just happening in Iran but in most of the undeveloped and developing countries are facing this issue. On the other hand, nations like Australia and Ukraine are looking forward to using the benefits of cryptocurrencies. Yes, it is true that cryptocurrencies follow the principle of decentralization but that shouldn't offend the countries who believe in democracy. We need to have a practical approach towards this new technology and focus on using it to optimize our economy.

If what is the decision of their country kindly respect them because they did it for the sake and what are the good of them. But many people in Iran are not agree to their decision because that is their another job that they earn an extra money.

Well, It is a matter between Governments. Iran cannot Ban Crypto currencies permanently. A big reason behind that is, it will be badly effected Economically. Mostly Peoples are using Crypto currencies in different countries directly to make them strong financially. So media or social media are doing highlight news like that. Just leave these kind of things and let it be for future. Hopefully BTC and other crypto currencies will be bring financial revolution worldwide.

Yeah you're right. Bitcoin's usage cannot be banned. It is actually a good thing that banks don't get to control bitcoin because the rules and regulations that are to be followed with a bank may sometimes be annoying. There is only one thing that can stop us from using bitcoin and that is internet not existing anymore which is not going to happen for sure.

this is a bad news for cryptocurrency investors as it will surely have a negative effect on the cryptocurrency world. i sincerely hope they have a rethink about this soon and make a more better decision.

I think every state Every state Every bank every nation to go to find out what is the transfer of the Ministry of Finance Bitcoin Mountains can be tracked money transfers and donations can really go a la calculations can be a flow in the world becomes more easily transparent a good ban day or day any country ban or use it does not change much The important thing is to use the great powers.

But the funny part is, their Central Banks banks using crypto for the reason that they deemed that crypto can be used by criminals, however, they are allowing their experimental coins, which for me is going to be used to circumvent the trade embargo against them, similar to what Venezuelan government are doing. How ironic is it.

So let's see how it goes for their so called experimental coins, but I'm pretty sure that once its completed, it will be used by their central government to evade sanctions by US against them and we will see how they are going to defend themselves.

But, the problem is that no one cares about Iran and it does not affect much the entire market in here, that is the main reason of why everyone is so silent in here and it doesn't affect anything at all. useless FUD.

My thoughts exactly, it would be problematic if it was the likes of Japan and since this is not about oil, I am not going to be bothered at all with this issue.

I hope this is just an issue, and Iran does not really ban Bitcoin, because this would be a bad List for Bitcoin if Iran really forbids Bitcoin and Cryptocurrency! And it will certainly affect the stability of Crypto prices in the market.

Whatever the issue against bitcoin still its market value stay strong and expensive and never been affected to the fud, I think they ban bitcoin on their country with the same reason with the other country who ban bitcoin.

I think it is a temporary ban, the ban bitcoin is used by the government of Iran to conduct analysis and research on digital currency.

After Venezuela, Iran and Turkey are countries that are interested in digital currencies. and they have plans to follow Venezuela.

that is every regulation of the country is different, there is agreement with btc, and some who do not agree, therefore we must also follow how the rules that exist in our own country.

In many countries, there is a problem. They welcome blockchains, but they ban cryptocurrencies. They think that the blockchain technology has potential and is worth applying. However, there is a high risk of cryptocurrency and it is not suitable for people to participate in large quantities. So the National Bank will block passwords, not blockchain, and many of them have already started to apply blockchain technology.

Ow no.Its seems to me that it's sad to hear that news, Well, we need to respect the decision of Iran in banning bitcoin in their country, We just need to accept the fact that not all country are accepting bitcoin as a node of payment. For sure, the Iran government has a basis why they banned it in there country. We just need to follow the rules of that country because its an already a regulation in there. I am just hoping that few a country will not accept and tons of country in the world will accept the cryptocurrency.

The people of Iran still using it then when how it become ban.

The decision depends on the government alone. Bitcoin at least provides the best for the country in order to improve the country's economy for the better. The government is less confident in the existence of bitcoin because they only see from the negative side only. 8)

 Iranian government confirmed that now.
I am still a bit worried that general public might see this simple reminder as the first step towards a creating hostile law

Iran has banned the use of bitcoin and other cryptocurrencies by its banks and financial institutions.

"The use of bitcoin and other cryptocurrencies in all the country's monetary and financial centers was banned," an April 23 statement by the central bank said.

It said the decision had been made in December by the government's money-laundering committee and it was now being put into effect.

The ban was necessary since "all cryptocurrencies have the capacity to be turned into a means for money-laundering and financing terrorism and in general can be turned into a means for transferring criminals' money," it added.

Many Iranian individuals consider cryptocurrencies an alternative to overcoming difficulties related to international sanctions and the country's ailing financial institutions.

Iran is indeed known as a strictly Muslim country on the rule. They are a bit cautious if they have to come into contact with a foreign country. The American anti-union there is very thick. Therefore cryptocurrency is rather difficult to enter there. A mediator is needed so crypto can be in Tehran.

Yes, I heard this, in December 2017, after a series of anti-government demonstrations, the messenger was blocked in Iran, but on January 13, the lock was removed.

I think the current situation in Iran can still be negotiated to open into cryptocurrency market may be the reason why they are still not accepted its because the regulation was not properly agreed and hopefull in coming days they will end up with tha acceptance of crypto so the people living can also benefited.

Is this a legitimate news or a fake news? It could be better to include the link of the original source of the news to remove the doubt of the forum users. Since Iran is almost devastated due to the war in the past years, I thing they are still recovering from the wrath. But, it is not far to impose regulation like that since there are more company that is starting their business on that area. However, if the is a legitimate news, it could have no significant effect to the whole bitcoin ecosystem. A small country cannot move a price of a bitcoin due to unwanted policy.

As far as Iran is concerned,it seems to be surprising as earlier Iran was discussing to use bitcoin as secondary currency in order to boycott US sanctions and now,it has now taken a decision totally contrast.

Means the news is not proclaiming the ban bitcoin!
I had thought this news was bad news, but after reading clarification from you I became aware that Iran does not forbid Bitcoin. but unfortunately if ATM Bitcoin or Vending Machine does not exist in Iran.

actually this news is still not understood, maybe I can help. please you can read it at this link https://news.bitcoin.com/central-bank-of-iran-bans-banks-from-crypto/.
read to the end so as not to cause a misconception

like korea and usa,  very bad

If this is true then we can add this to the list in which some of the countries are really being way and trying to shut of the cryptocurrency from their borders because they still fear the unknown. If this is true then we can be sure that some of the countries are also taking note of this and are sure to choose to close down their doors and windows because of this. Its truly a sad day but we can still be able to revive this with our information drive

if you are going to give the news you should provide a link, so that people who read it can be more understanding and clear.
for example like this post

According to Reuters, the Central Bank of Iran (CBI) has banned banks and credit institutions from trading electronically, including bitcoin.
Iran has banned banks and credit institutions from trading in electronic money, including Bitcoin.
Before issuing the ban, the CBI does not prohibit the use of electronic money but only warns of potential risks. Under the ban, anyone violating the new rules will be fined based on the relevant rules and regulations. The new move is expected to control the domestic currency market after the devaluation of the rial due to tensions surrounding the Iranian nuclear deal.

Well if its true than its bad thing for the people of iran who are in crypto. Government of iran needs to understand that blockchain can help them in tough time.they need to understand iran should launch there own crypto rather banning them which will create more difficult time for them

Iran comes under the jurisdiction of southeast Asia which collectively is banning bitcoin since its economy is dependant on one very crucial thing that powers the physical currencies, Oil. If it accepts bitcoin then the valuation of its currency will no longer dependant on the core export affecting their economy severely.

Same bans was imposed by indian government too.But still trading is continues in india with no effects.

I think their actions are not wrong. because their country's currency is unstable and they ban crypto and bitcoin in order to stabilize their country's currency. Iran has strict rules and they are very cautious in global economic affairs such as crypto trade

Crypto and centralized digital currency should be separated and isolated in terms of doing banking. IT might be confusing for the banks to accept centralized currency and at the same time the decentralized digital currency. This might confused the clients and lead to troubles in the near future. SO good thing about banning for this banks to use decentralized digital currency. Anyway they can still do it but they had to inform the client to exchange their crypto to fiat before using the service of that bank.

I don’t know what has happened with the governments of these nation, why they don’t understand the fate and potential of bitcoin, I think they should meet with those countries who has legalised bitcoin in their nation, the speed, development, digitalisation they are experiencing in their nation and moreover bitcoin has reduced poverty even to a very great extent , though bitcoin is seen to be a falling currency now a days but all we have to understand that bitcoin has very bright future ahead.

Is this information really accurate? Some Iranian investors have told me that they are still free to use electronic money. If the information is correct then it is bad news that could lead to bitcoin's value going down further due to government ban in Iran.

Thank you for the explanation. It really helps the ones who are interested in Learning about Bitcoins. Am interested in Learning about bitcoin and Crypto trading, So I think this forum would be a great resource for me.

Iran is under pressure from its international relations with united states which plays a big role in the GDP of its country since united states have a ban on cryptocurrencies the diplomatic relations between the two countries do not give acceptance to Iran to regulate bitcoin.

Not only Iran 🇮🇷, there are many countries and if clearly speaking then not many but almost every country is in against of bitcoin and it is all because of its illegal use because there is no such proper authentic regulating body over bitcoin who could keep eye over all bitcoin transactions and this could only possible when bitcoin will be legalised and centralised globally and country needs to understand this thing that inspite of opposing bitcoin they should legalise it, so that they can boost the development of their own country.

It is quite sad that there are continuously countries wherein they banned the services of cryptocurrencies,
I think instead of worrying we should keep calm and stay positive in this journey.