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Business / Finance

Iran ready to promote bitcoin to bypass sanctions

MQL5: Blogs Traders 20.03.2019 at 15:44

Blogs traders and analyst of financial markets

The Iranian Government plans to promote bitcoin to circumvent sanctions by the United States. Earlier, in April 2018, Iran introduced a total ban on the cryptocurrency. Currently, there are about 50 related bloccano enterprises, and licensed of crypto currency exchange.

In late January, Iranian authorities allowed the creation of gold-backed cryptocurrency PayMon. To start the circulation of currency is planned before the end of this year. The government hopes that legalizing cryptocurrencies will avoid Iran's traditional monetary control, which affects sanctions on Iranian automotive sector and trade in gold and other key metals.