Iran bans banks from using cryptocurrencies

[MoneyICO]

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.

[Chrystora123]

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.

[franky1]

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

[Name: Claudio]

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.

[franky1]

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

[javadsalehi]

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.

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.

[cryptorTUX]

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.

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.

[kenelmark]

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.

[SaShiRaJaVu]

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

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.

[Hazir]

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.

[Tenderino]

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.

[emath7]

   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.

[Kavallo]

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

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.

[franky1]

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

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 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

[Remainder]

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

[franky1]

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.

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

[hurry_hore]

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

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.

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.

[joykulot]

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.

[javadsalehi]

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

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.

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.

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.

[GoldenLad]

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.