Iranian Government Won’t Recognize Bitcoin Yet Announces Plans for Own Cryptocurrency

  • Alex Dovbnya
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Iranian Government Won’t Recognize Bitcoin Yet Announces Plans for Own Cryptocurrency

Although Iran seemed to embrace Bitcoin as a method of bypassing economic sanctions last year, now, the country’s central bank denies ever recognizing Bitcoin as an official currency. Iran has determined that the cryptocurrency market is too risky and is working on regulatory measures. On the other hand, the Iranian government announced plans to develop the country’s own cryptocurrency.

Cover image via u.today
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