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The whole situation about Iranian cryptocurrency is very exciting as it sets the new level of adoption of the cryptocurrency in general. This is not the first case when a country issues digital currency, but it seems that Venezuelan Petro failed and PayMan can become the first one to succeed. Donald Trump imposed sanctions on Iran and SWIFT removed all Iranian banks from its system, so the usual banking transactions became impossible. In the middle of 2018, when the situation was still in development, the first steps of switching to the trade in crypto had been already made - Iran negotiated such possibilities with Russia - yet another country under sanctions. By that time, Russia had already prepared MIR cards based on NSPK ... Read more about " Is Iran a Russian proving ground for testing national cryptocurrency idea? " on coinatory.com

After a year of speculation and news about various improvements, Iran has finally introduced Payman digital currency. State-supported cryptocurrency will be used to circumvent sanctions from the United States. Currently, the country"s financial system is isolated from SWIFT, which makes import and export almost impossible. The launch of the state cryptocurrency was announced on January 29 during the annual conference on electronic banking and payment systems in Tehran. The theme of the conference this year was the “Blockchain revolution”. Iran quickly discovered the power of the blockchain and digital currencies, after losing contact with SWIFT and became subject to US sanctions, which led to this bold economic step. The dir ... Read more about " Central Bank of Iran introduced Payman cryptocurrency " on coinatory.com

Iran, whose economy suffers from international economic sanctions, is discussing the use of its state cryptocurrency in the transactions with eight countries. This is reported by the Tehran Times. Representatives of Iran, in particular, are negotiating with colleagues from Switzerland, South Africa, France, England, Russia, Austria, Germany and Bosnia. According to Mohammad-Reza Modoudi , head of the Iranian Trade Promotion Organization, meetings are held in the hope of attracting foreign investors to the country. At the same time, the question of how Iran will be able to carry out international trade under the pressure of international sanctions restricting access to banking is relevant. According to Modoudi, the key to solving ... Read more about " Iran offers monetary transactions in cryptocurrency to eight countries " on coinatory.com

According to the draft report of the Central Bank of Iran, which became available to the media, the country"s central bank intends to prohibit the use of cryptocurrency as a means of payment. The document of the central bank, entitled "Obligations and rules of cryptocurrency turnover", says that "any cryptocurrency wallets will be used exclusively for storing and moving cryptocurrencies, whereas the integration of any services with cryptocurrencies is prohibited." If the rules come into force, the central bank will stop using cryptocurrencies as a means of payment. However, according to the document, the central financial department of Iran does not intend to prohibit citizens from storing or moving small amounts of “allowed” cry ... Read more about " Iran may ban Bitcoin as a means of payment " on coinatory.com

Secretary of the Supreme Council of Cyberspace of Iran reported that various ministries of the country"s government recognized the mining of cryptocurrencies as an industry. Secretary of the Council of Cyberspace Abolhassan Firouzabadi stressed that the mining of cryptocurrency, such as bitcoin (BTC), was approved by major state bodies as an industry. However, the official legislation creating a legal basis for the industry has not yet been introduced in the country. Mr. Firouzabadi said that the mining was recognized as the industry by ... Read more about " Iranian authorities: mining is recognized as an industry " on coinatory.com

It was reported earlier that the Iranian authorities could issue their own sovereign cryptocurrency, with the help of which they try to circumvent the economic sanctions imposed by the United States. As it was recently revealed, the work on the preparation for launching the national cryptocurrency of Iran is almost complete. According to the available information, the Iranian cryptocurrency will be released on the Hyperledger blockchain platform. The authorities have already prepared a document detailing his plans to create a national ... Read more about " Iran disclosed details of the national cryptocurrency " on coinatory.com

The Iranian state press reported that the Central Bank will soon launch a sovereign cryptocurrency, which is 100% premined and expects the "command" of President Hassan Ruhani. Explanations on the use and rules for the exchange of state tokens will be explained by the country"s regulator as early as the beginning of September. The sovereign cryptocurrency will help Iran avoid US sanctions restricting the sale of oil, so experts draw analogies with Venezuela"s option. The Bolivarian Republic issued El Petro, radically replacing local ... Read more about " Iran is 100% ready to launch its own cryptocurrency " on coinatory.com