Iran bans banks from using cryptocurrencies

[Vika99siombiwi]

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.

[tranphuong]

 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

[Kristy22]

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.

[budi691]

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.

[Milla Kross]

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.

[dragontigear]

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.

[addeqt]

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.

[r32godzilla]

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.

[sakahayang]

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

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.

[budismile]

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

[Ico President]

like korea and usa,  very bad

[TheGodFather]

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.

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

[sakahayang]

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.

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

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

[orarider]

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.

[crypto002]

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

[raahi]

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.

[rajkr]

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

[zeingrind777]

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

[burakdat]

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.

[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.

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.