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Thread: Iran Central Bank Makes Bitcoin Trading Illegal

  1. #1

    Iran Central Bank Makes Bitcoin Trading Illegal

    Buying and selling cryptocurrencies like bitcoin is illegal in Iran, a senior government official declared, according to a report by local news agency Tasnim News on July 8.

    Nasser Hakimi, deputy governor for new technologies at the Central Bank of Iran (CBI), said that bitcoin trading is not legal in the country, citing a related prohibition by a local anti-money laundering (AML) authority, the Supreme Council of Combating and Preventing Money laundering and Financing of Terrorism Crimes.
    In an interview with Tasnim News, Hakimi warned the public against legal and investment risks associated with cryptocurrency trading, outlining a high level of bitcoinís volatility. Alongside, the official also expressed concerns about crypto advertisements, bringing awareness of promoted bitcoin pyramid schemes in the public.
    The official has also reportedly raised the issue of the need to draw a distinction between the production of cryptocurrencies and its trading.


    More at: https://www.zerohedge.com/news/2019-...rading-illegal
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  3. #2
    how can you ban people from playing with monopoly money?
    A savage barbaric tribal society where thugs parade the streets and illegally assault and murder innocent civilians, yeah that is the alternative to having police. Oh wait, that is the police

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  4. #3
    Only the banks play with fake currency

  5. #4
    Governor of the Central Bank of Iran (CBI), Abdolnaser Hemmati said that “a mechanism to mine digital coins was approved by the government’s economic commission and will later be put to discussion at a Cabinet meeting.” Initially, Iranian authorities announced that they are planning to authorize Bitcoin and cryptocurrency mining earlier in July, when the CBI governor Abdol Hemmati reportedly claimed that the Iranian government had approved some parts of an executive law that would authorize mining of cryptocurrencies in Iran.
    At the time, Hemmati argued that digital currency miners in Iran should contribute to the country’s economy, rather than letting mined Bitcoin escape abroad.
    Also, at the Commission’s latest meeting, its head Elyas Hazrati said that cryptocurrency is now recognized as official by the government, adding:
    “We do believe that cryptocurrency industry should be recognized as an official industry in Iran to let the country take advantage of its tax and customs revenues.”



    Today’s news also follows yesterday's reports that The Iranian Economic Commission has reportedly finalized a tariff scheme for cryptocurrency miners, according to a report from Iranian economic daily Financial Tribune.
    CoinTelegraph's Aaron Wood details that Energy Minister Homayoon Ha’eri announced that while the tariff scheme has been finalized, it is awaiting approval from the Cabinet of Iran - a governmental body consisting of various ministers and other officials chosen by the president.
    While Ha’eri did not elaborate on the exact price scheme, he stated that the price is dependent on market factors such as fuel prices in the Persian Gulf.
    The head of Iran Electrical Industry Syndicate, Ali Bakhshi, previously proposed a price of $0.07 per kilowatt hour for cryptocurrency miners. Electricity in Iran is currently very cheap due to government subsidies; one kilowatt hour of electricity currently costs $0.05, with power being cheaper in the agricultural and industrial sectors.
    To put these prices in context, Mostafa Rajabi Mashhadi, the Energy Ministry spokesman for the power department, previously stated that the production of a single Bitcoin (BTC) uses about $1,400 in state subsidies.
    The Financial Tribune reports that mining one Bitcoin reportedly consumes as much electricity as 24 buildings in Tehran do in one year.

    More at: https://www.zerohedge.com/news/2019-...-crypto-miners
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  6. #5
    Quote Originally Posted by Swordsmyth View Post
    Governor of the Central Bank of Iran (CBI), Abdolnaser Hemmati said that “a mechanism to mine digital coins was approved by the government’s economic commission and will later be put to discussion at a Cabinet meeting.” Initially, Iranian authorities announced that they are planning to authorize Bitcoin and cryptocurrency mining earlier in July, when the CBI governor Abdol Hemmati reportedly claimed that the Iranian government had approved some parts of an executive law that would authorize mining of cryptocurrencies in Iran.
    At the time, Hemmati argued that digital currency miners in Iran should contribute to the country’s economy, rather than letting mined Bitcoin escape abroad.
    Also, at the Commission’s latest meeting, its head Elyas Hazrati said that cryptocurrency is now recognized as official by the government, adding:
    “We do believe that cryptocurrency industry should be recognized as an official industry in Iran to let the country take advantage of its tax and customs revenues.”



    Today’s news also follows yesterday's reports that The Iranian Economic Commission has reportedly finalized a tariff scheme for cryptocurrency miners, according to a report from Iranian economic daily Financial Tribune.
    CoinTelegraph's Aaron Wood details that Energy Minister Homayoon Ha’eri announced that while the tariff scheme has been finalized, it is awaiting approval from the Cabinet of Iran - a governmental body consisting of various ministers and other officials chosen by the president.
    While Ha’eri did not elaborate on the exact price scheme, he stated that the price is dependent on market factors such as fuel prices in the Persian Gulf.
    The head of Iran Electrical Industry Syndicate, Ali Bakhshi, previously proposed a price of $0.07 per kilowatt hour for cryptocurrency miners. Electricity in Iran is currently very cheap due to government subsidies; one kilowatt hour of electricity currently costs $0.05, with power being cheaper in the agricultural and industrial sectors.
    To put these prices in context, Mostafa Rajabi Mashhadi, the Energy Ministry spokesman for the power department, previously stated that the production of a single Bitcoin (BTC) uses about $1,400 in state subsidies.
    The Financial Tribune reports that mining one Bitcoin reportedly consumes as much electricity as 24 buildings in Tehran do in one year.

    More at: https://www.zerohedge.com/news/2019-...-crypto-miners
    That's amazing!!!
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  7. #6
    Quote Originally Posted by dannno View Post
    That's amazing!!!
    They are trying to control it.

    It will be used as a test case to figure out how to take control and turn it into the Mark of the Beast system.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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