Iranian central bank confirm ban on trading Bitcoin and all cryptocurrencies
|- Deputy governor of Iranian central bank is confirming a ban of all cryptocurrencies.
- Cryptocurrencies have proven to be of assistance, given the falling value of Iran’s native currency.
The Iranian central bank deputy governor spoke to media outlets, detailing that the trading of Bitcoin and other cryptocurrencies within the country is illegal.
Many Iranian citizens had explored cryptocurrency as a means of securing their wealth as the Iranian Rial depreciated over the past three years, which was reported by Tasnim News Agency.
The deputy governor has requested that citizens refrain from trading Bitcoin as it is illegal to do so within the state. While the context of the conversation arose on the back of the numerous pyramid schemes in Iran, he confirmed that the ban would apply to all cryptocurrencies.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.