Top cryptocurrencies such as Bitcoin, Ethereum, and the rest of the market saw significant declines in early October due to rising geopolitical tensions between Iran and Israel, sparking fears about the stability of digital assets as a “safe haven.” Although prices have since recovered by mid-October, lingering concerns about market volatility persist. Evaluating Bitcoin Amidst...Read More
While the past several weekends went quite calmly for Bitcoin and the entire crypto market, this time, things are significantly different. Whether propelled by yesterday’s announcements by a few presidents of the US Federal Reserve or today’s reports of Iran preparing an attack against Israel, the reality is that BTC’s price has tumbled hard, and...Read More
Several countries have been planning to explore stablecoins despite the initial reluctance and more recent implosion of Terra. The latest one to jump on the bandwagon is one of Australia’s four largest financial institutions – National Australia Bank (NAB). The new Australian dollar-pegged stablecoin created by NAB, dubbed AUDN, is set to be launched on...Read More
The Russian government and the Central Bank of Iran are reportedly mulling a partnership to create a new stablecoin that can facilitate cross-border settlements. The token will be pegged to the valuation of gold. The Mutual Operation According to a report by the Russian media outlet Vedomosti, the local authorities could collaborate with Iran’s central bank...Read More
Iranian trade minister revealed on Monday that regulations and logistics have been finalized to facilitate the use of crypto in Iran’s international trade. The move comes nearly 3 weeks after it officially announced to have completed $10 million worth of imports paid in crypto. Iran Approves Crypto for Global Trade Iran’s Trade Minister Reza Fatemi...Read More
One of the leading economies in the Middle East – Iran – reportedly made its first import order using digital assets. The initiative included goods worth $10 million and happened earlier this week. A Reuters coverage revealed that Iran’s Ministry of Industry, Mine, and Trade approved the first official order for importing items in the...Read More
The Middle Eastern nation has gone against licensed crypto miners and will shut down all 118 legal ones in two days, according to a recent report. The country’s authorities have already done something similar in the past, citing the growing electricity demand during the summer. In an interview with a state-owned TV, reported by Bloomberg,...Read More
The Iranian authorities will reportedly impose harsher penalties on illegal cryptocurrency miners as some operators could even go to jail. Before that, the officials banned all digital asset mining endeavors during the winter season, claiming this could reduce the pressure on the nation’s electricity network during the coldest months of the year. Iran’s Intolerance of...Read More
In the face of massive sanctions, top Iranian official believes cryptocurrency is a solution. The country is now looking to launch its CBDC in a pilot phase. CBDC headlines have been dominating fintech media for quite some time. Several countries are working on a national digital currency, but only a handful of them have landed...Read More
The Iranian Ministry of Energy has ordered local authorized cryptocurrency miners to temporarily suspend their activities in the face of electricity shortages during the coldest months of the year. This is the second time authorities take measures of this kind as they did the same between May and September this year. Same Ban, Different Season...Read More
Tavanir – Iran’s Power Generation, Distribution, and Transmission Company – revealed that the ban on cryptocurrency mining would be lifted as early as September 22nd. The country’s authorities would allow digital asset miners to restart their operations legally, hoping to see a decline in energy consumption by the end of summer. Crypto Mining Is Back...Read More
Iranian lawmakers recently drafted a bill to “support cryptocurrency mining and organizing the domestic market for exchanges.” Inside the Bill The plan involves making the Central Bank of Iran the primary regulatory body regarding the domestic exchange of cryptocurrencies within three months. This includes plans to prohibit the exchange of any cryptocurrency within the country,...Read More
Iranian authorities have confiscated about 7,000 cryptocurrency mining machines. The latest development is in line with Iran’s crackdown on illegal bitcoin mining activities. According to Reuters on Tuesday (June 22, 2021), General Hossein Rahimi, Tehran police chief, revealed that the computer miners were found at an abandoned factory in Iran’s capital, which was used to...Read More
After blaming BTC mining for electricity blackouts and sending spies to hunt down illegal miners, Iran has placed a temporary ban on such endeavors in its borders. According to a Bloomberg coverage, the Iranian government has placed a ban on all cryptocurrency mining endeavors until September 22nd. The ban is effective immediately and comes ahead...Read More
The Iranian government enlisted intelligence officers with the task of cracking down on illegal cryptocurrency miners. This unprecedented move aims to solve the nation’s concerns with rising electricity consumption. The Government vs. Illegal Crypto Miners The Iranian authorities seem determined to solve their issues with illicit crypto mining. Bloomberg reported that the Ministry of Intelligence...Read More
The Central Bank of Iran (CBI) will allow banks, currency exchanges, and licensed miners to pay for imports using cryptocurrencies. According to a report from the Iranian site Financial Tribune, The CBI has issued a notification to banks and licensed exchanges about the new regulatory framework for crypto payments. The government will soon pass a...Read More
Iranian authorities have confiscated 45,000 bitcoin mining rigs that used subsidized electricity to mine the cryptocurrency. This is yet another considerable seizure in the Middle East country, which has experienced frequent blackouts that the government blamed on BTC mining. 45,000 BTC Mining Machines Confiscated In Iran Local media outlets reported that the police had seized...Read More
Following new sanctions by the United States Treasury Department earlier this week, Iran now hopes to use Bitcoin for cross-border settlements, local media reported Thursday. The Iranian government amended its crypto regulations so that miners can redirect cryptocurrencies to Iran’s finance mechanism for international trades as the country’s fiat currency continues to suffer from both...Read More
The latest news coming out of Iran points to growing support for Bitcoin and cryptocurrency miners in the country. Miners will now have access to the electricity output from three power plants to mint digital assets, courtesy of Iran’s Thermal Power Plant Holding Company (TPPH). Tender For Bitcoin, Crypto Miners To Leverage Output of 3...Read More
On May 4, 2020, the blockchain surveillance firm Chainalysis published a three-part series covering a crypto Ponzi scheme, North Korea, and Iran’s use of digital currencies like bitcoin. The company’s research papers discuss the Poland-based crypto Ponzi called Futurenet, a hosting service allegedly tied to North Korea, and how Iran-based exchanges are bypassing OFAC sanctions...Read More
On May 4, 2020, the blockchain surveillance firm Chainalysis published a three-part series covering a crypto Ponzi scheme, North Korea, and Iran’s use of digital currencies like bitcoin. The company’s research papers discuss the Poland-based crypto Ponzi called Futurenet, a hosting service allegedly tied to North Korea, and how Iran-based exchanges are bypassing OFAC sanctions...Read More
Iran may prove to become a very interesting region for all cryptocurrency activities. The government has begun issuing licenses to crypto mining firms, and the overall interest in this business model is picking up. The licensing model in Iran is worthwhile to keep an eye on. Crypto Mining is Booming in Iran Every cryptocurrency mining...Read More
The conflict between the United States and Iran showcased bitcoin’s emerging safe-haven appeal. | Image: shutterstock.com Bitcoin’s use-case has evolved over time. Recently, the top cryptocurrency has been surging under the safe haven narrative. While both gold and bitcoin moved higher due to geopolitical risk, the cryptocurrency has significantly outperformed the precious metal. Bitcoin’s primary...Read More
Fresh tensions between the United States and Iran has contributed to bitcoin’s sharp acceleration over the past week. The same forces could send BTC to new all-time highs. | Image: shutterstock.com Bitcoin is possibly becoming a safe haven asset. The top cryptocurrency is rising in tandem with gold as tensions in the Middle East grow....Read More
Tensions between the United States and Iran have been cited for bitcoin’s rapid advance Friday, but a closer look at the evidence reveals another factor in play. | Image: shutterstock.com The bitcoin price surged $538 (+7.8%) on Coinbase overnight and into the morning, pulling back at noon Friday morning. Commentators were quick to link the...Read More
The sudden escalation in US-Iranian hostilities sent a shockwave through global markets. | Source: AP Photo / Vahid Salemi Trump sent a shockwave through financial markets when he ordered an airstrike that killed Qassem Soleimani. Stocks, gold, and oil all fluctuated wildly as US-Iranian hostilities flared. Here’s how the prices of major assets responded. When...Read More
“The Muslim world should be designing measures to save themselves from the domination of the United States dollar and the American financial regime.” —Hassan Rouhani, President of Iran Also Read: Crypto Confronts Social Justice Warriors Hegemony and Muslim Resistance Hegemony refers to the leadership or dominance of one country or group over others. A nation...Read More
Iranian President, Hassan Rouhani, has suggested a unified Muslim crypto asset in talks with the Malaysian Prime Minister and Turkish President during the Kuala Lumpur Summit 2019. Rouhani said that the move would strengthen cooperation amongst Muslim nations and enhance resistance to financial shocks and manipulation by the US. Unified Muslim Crypto Well-Received Malaysian Prime...Read More
At a summit attended by leaders of Muslim countries, including Malaysia, Turkey, Iran, Qatar, and Indonesia, the Iranian president proposed creating a Muslim cryptocurrency to cut reliance on the U.S. dollar. The Malaysian prime minister supports the idea of a unified cryptocurrency for Muslim countries. Also read: Regulatory Roundup: Crypto ‘Inevitable’ in India, China Rankings,...Read More
Cyber attacks have become very common over the past few years. It would appear hackers are primarily targeting entire nations, rather than individual targets. One country dealing with plenty of cyber attacks is Iran. Iran Thwarts two Cyber Attacks So much even that at least two such attacks took place in the past week alone....Read More
