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Iran seems to be attempting to ban foreign-mined cryptocurrencies for payments

Published 05/07/2021, 03:10 PM
Updated 05/08/2021, 05:40 PM
Iran seems to be attempting to ban foreign-mined cryptocurrencies for payments

In a broader effort to circumvent the effects of sanctions, Iran may be attempting one of the first instances of digital currency protectionism.

According to a Tweet from news outlet Iran International, The Central Bank of Iran announced a decision from the Cabinet on Wednesday decreeing that digital currencies traded in the country must have been mined, or “extracted” there as well, barring the exchange of digital assets mined abroad.

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