Iran Bans Trading Of Foreign-Mined Bitcoin

According to an announcement shared by Iran International, the Central Bank of Iran (CBI) has banned its citizens from trading bitcoin and other cryptocurrencies mined in foreign countries.

Fatemeh Fannizadeh, a Swiss qualified independent lawyer and advisor on blockchain technology and cryptocurrencies, believes this move by the CBI is an attempt to stop capital flight from Iran.

“Crypto is already regulated in Iran … this just means that Iran wants to export Iranian produced coins more aggressively, encourage mining, and counter capital flight in the face of a depreciating Rial,” Fannizadeh shared on Twitter.

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