24 April 2018

Iran Bans Banks From Using Cryptocurrencies

Iran Bans Banks From Using Cryptocurrencies


Iran has banned the use of bitcoin and other cryptocurrencies by its banks and financial institutions.

As per the central bank of Iran, the ban was necessary since all cryptocurrencies have the capacity to be turned into a means for money-laundering and financing terrorism and in general can be turned into a means for transferring criminals' money.

Source- The Reuters

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • Iran Capital- Tehran, Currency- Iranian rial, President- Hassan Rouhani.
  • The Central Bank of the Islamic Republic of Iran is the central bank of Iran.

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