US Watchdog Urges Blockchain Exchanges to Prevent Iran from Using Crypto

News
Fri, 10/12/2018 - 13:58
Yuri Molchan
American Financial Crimes Enforcement Network (FinCEN) claimed the Iranian regime intends to use decentralized virtual coins to dodge the international sanctions
Cover image via U.Today

An American crime-prevention organization, the Financial Crimes Enforcement Network (FinCEN), published an open letter on Friday. FinCEN stated that the Iranian regime intends to use decentralized virtual coins to dodge the sanctions imposed by Donald Trump in August.

The agency addressed regulated crypto exchanges urging them to change their ledgers to prevent Iranian institutions from trading crypto.

As it became known recently, despite the fact that Iranian authorities are banning crypto exchanges and the use of virtual coins, traders still access P2P exchanges or use the VPN technology to access regular trading platforms.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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