The Central Bank of Iran suddenly closed the payment channels for cryptocurrency exchanges to address the currency crisis

2025-01-15 21:47:37

Collection

ChainCatcher news, according to Nobsbitcoin, the Central Bank of Iran (CBI) has suddenly closed cryptocurrency exchange payment channels without prior notice, restricting citizens' use of digital assets. This move comes against the backdrop of the Iranian rial depreciating by 37% against the dollar in 2024, after many Iranians turned to digital assets like Bitcoin as a safe haven.

The Central Bank of Iran is developing a "centralized cryptocurrency management system" similar to the banking system Shaparak to strengthen regulation of the crypto market. The bank's "Cryptocurrency Policy Regulatory Framework" released last month established its position as the main regulatory authority in the industry. The Human Rights Foundation pointed out that for the Iranian people, who are experiencing severe inflation and financial isolation, Bitcoin is one of the few avenues for financial freedom, and the authorities are blocking this channel.

(Source Link)

Related tags

Central Bank of Iran cryptocurrency

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.