Central Bank of Iran bans the purchase and sale of Bitcoin

In the country people can not trade in cryptocurrency due to the rules on combating money laundering and the financing of terrorism.

Nasser Hakimi, the deputy head of Iran’s central bank, said that buying and selling Bitcoin has been banned in the country, writes Tasnim News Agency. According to a representative of the financial regulator, cryptocurrency trading is illegal due to the rules on combating money laundering and terrorist financing.

Hakimi recalled that digital money is a highly volatile asset that carries legal and investment risks. The deputy head of the Central Bank of Iran also noted the prevalence of advertising cryptocurrency projects, which often hide financial pyramids.

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At the end of June, 1,000 miners were seized in the country after the government published a report on the increase in electricity consumption. The extraction of digital money is prohibited in Iran, however, such enterprises continue to run due to low electricity tariffs.

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