Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Iranian officials want to ban Bitcoin payments

CryptocurrencyJul 03, 2021 02:00PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Iranian officials want to ban Bitcoin payments

The Iranian parliament has prepared a bill seeking to ban the use of cryptocurrencies such as Bitcoin for payments.

According to a Friday report by Tasnim News Agency, the new bill drafted by Iranian lawmakers will prohibit the use of all non-national cryptocurrencies for payments within the country. On the flip side of the government’s move to clamp down on cryptocurrencies, the country is mulling over issuing its own digital asset. This is arguably the primary motive behind the new bill.

Iran is not the first country to issue a blanket ban on crypto transactions. Back in April, the Central Bank of the Republic of Turkey issued a banon the use of Bitcoin and other cryptos for transactions.

Miners must obtain licensesIn addition to restricting the use of cryptos for transactions, the Iranian bill also stipulated that miners in the region will have to secure licenses from the Ministry of Industry, Mine and Trade before setting up mining farms. The ministry already granted permissions to 30 mining facilities last week.

Recall that in May, the country imposed a four-month ban on crypto mining after blaming it for rampant power outages. The country also reportedly enlisted the help of spies to track down illegal mining farms.

Continue reading on BTC Peers

Iranian officials want to ban Bitcoin payments
 

Related Articles

DailyCoin’s Crypto Memes of the Week #9
DailyCoin’s Crypto Memes of the Week #9 By DailyCoin - Sep 17, 2021

There’s a grain of truth to every joke, and crypto memes are a distilled form of the grain. You probably know the meme “Keep Calm and Carry On.” This one...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
JOHNSON Jay
JOHNSON Jay Jul 04, 2021 6:29AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This is part of the reason they are stgnant compare to other countries , wrong ideologies
Lars Bremer
LarsBR Jul 03, 2021 2:39PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
funny how it's only regimes that bans bitcoin
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email