Minister of Iran said that the new cryptopleura ready

Iran is on the path of crypto-currency experiments, it was stated by the representative of the government bodies a few days later after the country banned the cryptocurrency.

"The ban of the Central Bank does not mean the prohibition or restriction of the use of digital currency for internal development", – said the Minister of information technology of Iran Mohammad Javad Azari-Jahromi, adding:

"Last week at a joint meeting on the progress of the project (local cryptocurrency), it was announced that the experimental model is ready."

The project will now be presented to the Iranian Bank for consideration and possible approval, but the details of the project are scarce.

It is unclear, for example, how this cryptocurrency works, what Blockchain it is based on, or will have its own Blockchain. Will it be available to everyone or will it be used only for the domestic market?

Sanctions

The geopolitical factor should not be deducted. The United States is intensifying its pressure on Iran through sanctions, which will come into force on 12 may.

This scenario led to a sharp depreciation of Iran's domestic currency, causing the Central Bank to announce that it prohibits cryptocurrencies, most likely due to the fact that capital outflows would not occur with further devaluation.

Freedman source.club