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Iran: the Central Bank announced BTC trading is illegal

The Iranian news Agency Tasnim reported warnings of a Central Bank employees in front of Bitcoin. In an Interview, the Vice Governor for new technologies, to be

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Iran: the Central Bank announced BTC trading is illegal

The Iranian news Agency Tasnim reported warnings of a Central Bank employees in front of Bitcoin. In an Interview, the Vice Governor for new technologies, to be referred to, therefore, the trade with Bitcoin as illegal. Users, therefore, legal risks, if you buy in Iran, Bitcoin and sell.

From Polina Khubbeeva
10. July 2019BTC$12.388,00 0.75%part Facebook Twitter LinkedIn xing mail

Iran's Central Bank warns its citizens against legal risks of Bitcoin. This Nasser Hakimi, Deputy Governor for new technologies, explained in an Interview with Tasnim on 08. July 2019. Tasnim is a private News Agency based in Tehran. The Islamic Republic of Iran is going on for some time Prohibited the Bitcoin Mining. Now, Hakimi would like to bind the call to the purchase and sale of the crypto-currency in the country.

Accordingly, the Supreme court of justice for the combating of money-laundering prohibited the buying and selling of Bitcoin. Hakimi added that a specification of the direction of production and trade is also included in the ban.

Iran's Central Bank holds BTC for the snow ball system

financial officials warned the citizens of Iran to remain particularly careful when advertising for Bitcoin. This suggest namely high profits, similar to "a tree with gold coins like in Pinocchio."

He described Bitcoin to continue as a pyramid system. Bitcoin transactions were in addition to the legal risk financial risks.

Meanwhile, especially for the low price of Electricity in the Oil state of Iran, has fueled the Mining in the last few years, it was. The public administration was the Mining, but long since a thorn in the eye. They complained that a single Mining plant consumes as much electricity as 24 residential units. Whether this calculation is correct, given the uncertainties regarding the ecological footprint of Bitcoin, however, is questionable.

Still, the electricity consumption of the country increased by seven percent. Therefore, the Iranian police followed the Bitcoin Mining is active. In the last few weeks, they felt, therefore, dozens of farms in different regions. In General, the installations were located in remote suburbs. The Miner took advantage of the power of former industrial facilities for the Bitcoin production on a large scale.

Bitcoin could help Iran from the terminal

The antipathy of Tehran against crypto-currencies prevent the government deal with the obvious advantages of decentralized currency systems for external political since States. Finally, the Iran since the Committee from the SWIFT is cut off-the System practically from the international payment traffic. A more open attitude towards Bitcoin and co. would be the government.

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