Iran bans banks from using cryptocurrencies

[SUDARMONO]

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.

[Ishiro5]

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

[vintages]

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.

You never can tell, it might affect it.

[dothebeats]

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.

[jimmydvd]

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.

[GoldenLad]

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.

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.

[Juggy777]

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.

[Herbert2020]

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.

You never can tell, it might affect it.

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.

[pxo.011]

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.

[Kakmakr]

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?  

[bingungsekali]

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

[Roman Coinson]

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

[Pattberry]

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

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.

[imteaz]

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.

[steelzeppelin]

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.

[Abraham777]

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.

[israfil]

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.

[bolbau]

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

[stayeduptolate]

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.

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.

[RoftheN]

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.