Iran Central Bank Makes Bitcoin Trading Illegal

Authored by Helen Partz via CoinTelegraph.com,

Buying and selling cryptocurrencies like bitcoin is illegal in Iran, a senior government official declared, according to a report by local news agency Tasnim News on July 8.

image courtesy of CoinTelegraph

Nasser Hakimi, deputy governor for new technologies at the Central Bank of Iran (CBI), said that bitcoin trading is not legal in the country, citing a related prohibition by a local anti-money laundering (AMLauthority, the Supreme Council of Combating and Preventing Money laundering and Financing of Terrorism Crimes.

In an interview with Tasnim News, Hakimi warned the public against legal and investment risks associated with cryptocurrency trading, outlining a high level of bitcoin’s volatility. Alongside, the official also expressed concerns about crypto advertisements, bringing awareness of promoted bitcoin pyramid schemes in the public.

The official has also reportedly raised the issue of the need to draw a distinction between the production of cryptocurrencies and its trading.https://www.zerohedge.com/news/2019-07-08/iran-central-bank-makes-bitcoin-trading-illegal

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