Iran’s New Law Restricted Trading Activities Using Cryptocurrency
The Government of Iran proposed the new law regarding cryptocurrency markets that restricted trading activities in the country using cryptocurrency, reported on 4 August 2019.
According to the report, the new bill stated that the government and the banking system would not view the digital coins as legal tender and the Central Bank of Iran would not guarantee their value.
On the other hand, mining cryptocurrencies are still allowed under some circumstances where miners must get the approval of Iran’s industry ministry.
Also, miners are not allowed to mine cryptocurrencies inside a 30-kilometer boundary of all provincial centers but are fully allowed inside the capital Tehran and the central city of Esfahan by following the tough restrictions of these cities.
A week ago, Iran is officially announced to legal cryptocurrency mining within its borders.
Previously, Local News Agency Tehran News of Iran reported that Iran announced a national cryptocurrency that is backed by gold.
In May, The most popular peer to peer (p2p) cryptocurrency exchange LocalBitcoins banned the traders living in Iran country from using their trading services.
