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The central bank of Iran is gearing up to begin the pilot phase of its digital currency project in the near future, its new head announced to representatives of local media. The monetary authority is also preparing to move forward with a plan to reform the legislation that governs its own activities. Iran Preps Pilot … Read more
Gabriel Makhlouf, the governor of the Central Bank of Ireland (CBI), has published a blog post in which he shares his views on the digitalization of finance. While echoing concerns expressed by his counterparts regarding cryptocurrencies, the official has also highlighted some of their positives. Don’t Ignore the Positive Elements of Crypto Technology, Central Bank … Read more
U.S. banking corporation BNY Mellon is gearing up to offer crypto custody services out of Dublin where it has just established a digital hub. The news coincided with a stark warning issued by a top central bank official in Ireland who said people should only buy bitcoin if they’re prepared to lose money. BNY Mellon … Read more
Startups have spoken out against government attempts to curb the operations of crypto exchanges in Iran. Cryptocurrency trading is not illegal, Iranian fintechs insist, calling on lawmakers and regulators to develop rules that would allow the sanctioned country to continue to take advantage of decentralized money transfers. Iranian Fintechs Insist There Is No Ban on … Read more
The Central Bank of Iran has issued a warning against unrestrained crypto trading and reminded investors that only cryptocurrencies minted by licensed miners in the Islamic Republic can be used under limited circumstances. Traders will bear full responsibility for the risks, the bank cautioned, although spending crypto on imports through approved banks and exchanges remains … Read more
Dozens of countries all over the world have used the same trick called redenomination to hide how they have stolen their own citizens’ money through inflation or hyperinflation. The next nation to try this economic sleight of hand is the government of the Islamic Republic of Iran. Also Read: Global Crypto War Is Heating up … Read more
Control of the U.S. dollar and the global financial system that depends on it gives the American government an incredibly powerful tool in shaping international affairs. As such, it is not surprising that its geopolitical rivals around the world will try to exploit the invention of cryptocurrency to take the USD down a peg. The … Read more
The Financial Crimes Enforcement Network has warned U.S financial institutions that the Iranian government might be dodging economic sanctions by using cryptocurrencies. The document highlights challenges arising from peer-to-peer virtual currency exchanges and encourages banks to monitor blockchain ledgers for transactions tied to the country. Also Read: Church Mining Cryptocurrency to Pay Higher Electricity Rates Iranian … Read more
The Financial Crimes Enforcement Network has warned U.S financial institutions that the Iranian government might be dodging economic sanctions by using cryptocurrencies. The document highlights challenges arising from peer-to-peer virtual currency exchanges and encourages banks to monitor blockchain ledgers for transactions tied to the country. Also Read: Church Mining Cryptocurrency to Pay Higher Electricity Rates Iranian … Read more
The government of Iran is preparing to launch its own cryptocurrency, according to state-controlled media reports. The intended purpose of the new Iranian govcoin is to help the country skirt the international financial sanctions meant to cut its access to the global economy. Also Read: The Daily: Skrill Launches Crypto Trade, Luxury Market Reaches $100M … Read more
