Iran officially bans use of cryptocurrencies

An Iranian newspaper says the country’s Central Bank has officially banned the use of cryptocurrencies in financial transactions.

The move is seen as part of the theocratic dictatorship’s effort to control the currency market after the Rial hit an all time low earlier this month.

Monday’s report by the Donya-e Eqtesad daily says the ban applies to “all monetary and financial centers of the country,” including banks, financial institutes and currency exchange offices.

 

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