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Iran central financial institution bans cryptocurrency dealings

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DUBAI (Reuters) – Iran’s central financial institution has banned the nation’s banks from dealing in cryptocurrencies, together with Bitcoin, over money-laundering issues, the state information company IRNA reported on Sunday because the nation tries to halt a forex disaster.

FILE PHOTO: A token of the digital forex Bitcoin is seen positioned on a monitor that shows binary digits on this illustration image, December eight, 2017. REUTERS/Dado Ruvic//File Photograph

“Banks and credit score establishments and forex exchanges ought to keep away from any sale or buy of those currencies or taking any motion to advertise them,” IRNA stated, quoting a central financial institution round primarily based on a ban on cryptocurrencies handed by Iran’s anti-money laundering physique in December.

Iran moved this month to formally unify its official and open market alternate charges and banned cash altering exterior of banks, after its forex, the rial, plunged to an all-time low on issues a couple of potential return of crippling sanctions.

U.S. President Donald Trump will determine by Could 12 whether or not to revive U.S. financial sanctions on Tehran, which might be a extreme blow to the 2015 pact between Iran and 6 main powers. He has pressured European allies to work with Washington to repair the deal.

Reporting by Dubai newsroom, Modifying by William Maclean

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