Details of Iran’s National Cryptocurrency Unveiled
NEWS
3 hours ago | Kevin Helms | 1770
Details of Iran’s National Cryptocurrency Unveiled
Iran has been developing a national cryptocurrency, a move that could allow them to evade US economic sanctions. Informatics Services Corporations, the country’s leading provider of banking systems, has reportedly been designing and developing the cryptocurrency and has now revealed its features.
In May, Mohammad Reza Pourebrahimi, head of the economic committee of Iran’s parliament, said that “more than 2.5 billion dollars has been sent out of the country for buying digital currencies,” Ibena also reported. In July, he told the publication that over 500 BTC belonging to Iranians were seized by the US government.
Iran has stepped up its plan to develop the national cryptocurrency after sanctions were imposed by Washington aimed at restricting the country’s access to US dollars, as news.Bitcoin.com previously reported.
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