Iran’s Crypto Ban to Be Reversed by September With New Regulatory Framework Underway

Iran is finally warming up to crypto while planning to issue its own rial-pegged currency. The Central Bank announced that it would lift an earlier imposed crypto ban

Tue, 28/08/2018 - 18:14

Iran’s Crypto Ban to Be Reversed by September With New Regulatory Framework Underway

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After its April’s crackdown on digital assets, Iran is finally warming up to crypto while planning to issue its own rial-pegged currency. According to a local media outlet Financial Tribune, the Central Bank of Iran announced that it would lift an earlier imposed crypto ban by the end of this September.

Iran is currently designing a new regulatory framework for cryptocurrencies, which was discussed during a recent Blockchain conference. Digital assets were banned due to money laundering concerns and capital flight, but now Tehran is reviewing its position.

Earlier, U.Today reported that Iran has finalized its national cryptocurrency draft.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.