Iran, which was heavily affected by the sanctions imposed by the US on the country and its businesses in January, has banned the only alternative payment method that local businesses and individuals could use to bring money in and out of the nation. Why Did Iran Ban Cryptocurrency? On April 23, the central bank of Iran effectively banned local banks and financial institutions from dealing with cryptocurrency businesses. “Banks and credit institutions and currency exchanges should avoid any sale or purchase of these currencies or taking any action to promote them,” Iran’s state-run IRNA news agency reported. According to Radio Free Europe/RadioPowered by WPeMatico
