Iran Government Will Ban Bitcoin Payments

Iranian government is preparing a law bill to prohibit any type of non-national cryptocurrency payment in Iran.

The Parliament of Iran is now preparing a new bill on Cryptocurrency usage. 

Since the  existing rules to use Cryptocurrency will remain the same, there is a new law for the use of Cryptocurrency in payment options.

A recent report by Tasnim News Agency, confirmed that Iranian government is ready to ban payment with the use of Cryptocurrency.

This news is not much shocking because the main reason behind this non shocking fact is the intention and existing laws of Iranian government over Cryptocurrency use.

Except El Salvador, there is no one country existing in the present time which Legalised Bitcoin or another Cryptocurrency. That means “bitcoin not a legal tender”. 

Related: El Salvador to Become First Nation With Bitcoin as Legal Tender

So already in Iran, people were not able to make payment in Cryptocurrency as a legal tender.

But here the announcement about the official Full ban on bitcoin or another crypto payment is a clear indication of Iranian government.

The Monetary Authority of Iran, is looking to create their own Cryptocurrency.

And that digital currency will be controlled by the Central Bank of Iran.

Well a similar news we can see from the side of Turkey where they banned Cryptocurrency payment to lower the risk of payment system.

Since it is another matter, Turkey is a huge market of Cryptocurrency users even in the present time.

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