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Iran Cracks Down on Crypto Citing Money Laundering Fears

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Mon, 23/04/2018 - 13:26
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Iran Cracks Down on Crypto Citing Money Laundering Fears
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The Central Bank of Iran has become the latest regulator in a major country to come down hard on cryptocurrencies. The Middle East country has said that its domestic banks can no longer deal with cryptocurrency matters due to the possibility of money laundering.

The  Central Bank of Iran’s supreme committee, also in charge of curbing money laundering and fighting capital flight in Iran, has issued a circular prohibiting banks and financial institutions from transactions that enable buying, selling or promoting cryptocurrencies.

“Banks and credit institutions and currency exchanges should avoid any sale or purchase of these currencies or taking any action to promote them,” an excerpt from the circular read.

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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