Cryptocurrency Trading Banned On Iran

The central bank of Iran has prohibited trading of cryptocurrencies including Bitcoin due to money laundering, according to the IRNA state news agency report on Sunday, as a method to solve the crisis on the money.

Selling or purchasing of the pair or any means of “promotion” should be avoided by various or any financial institutions, in reference to the circular of the central bank about banning of cryptocurrencies passed by anti-money laundering body in December.

Iran actions this month aims to unify the official and open market exchange rates and banned money exchanges other than banks since the rial currency dropped to an all-time low with risks of returning sanctions.

On may 12, the decision of the U.S. President Donald Trump on reimposing the U.S. economic sanctions on Tehran could largely affect the pact between Iran and six major powers that also put pressure on their European allies to agree with Washington to settle this deal.