Jul 6, 2019 21:38 UTC
Jul 6, 2019 at 21:38 UTC
Iran and US have been at each other’s throats for a very long time now, and that has a long history of enmity behind it. That enmity is now being reflected in the crypto space as well.
According to Iran’s Saeed Zarandi, Assistant Minister of Industry, Trade, and Supply, the US is trying to systematically block Iran’s efforts to mine Bitcoin. The minister claims that the US Congress is trying to stop Iran from accessing cryptocurrencies.
Iran has a turbulent time with cryptocurrencies in the past, whereby it has tried to formulate a concrete stance on crypto. Back in January, BTC Wires had reported: Iran to Launch State-Backed Cryptocurrency to Counter SWIFT and US Regulations
However, they had hit a few roadblocks along the way. Zarandi says that Iranian ministries are currently collaborating with the Central Bank of Iran to decide on the fate of cryptocurrencies and how it should be regulated in Iran.
The rationale that the US is allegedly adopting to block Iran’s crypto efforts, is that they see it as an attempt on Iran’s part to bypass the sanctions that have been imposed on them, and as a method of money laundering.
While Iran is in a seemingly dire situation because of the crippling crypto sanctions that have been imposed on the country, cryptocurrency could really pull out the country from tough times ahead.