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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

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

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

Cryptocurrencies can help create a new type of business financing and circumvention of sanctions, experts believe the agency interviewed by Prime. Some of them indicated that to open these opportunities, it is necessary to change Russian legislation. On Thursday, during a direct line, Russian President Vladimir Putin said that Russia should carefully analyze and monitor the development of the cryptocurrency in terms of the ability to avoid restrictions in the sphere of international financial activity. The legal status of the ... Read more about " Cryptocurrencies will create a new type of business financing and circumvention of sanctions " on coinatory.com