The Central Bank of Iran (CBI) has announced a regulatory framework to govern the cryptocurrency industry. This decision positions the CBI as the primary regulator, aiming to balance oversight with economic growth. The framework focuses on licensing brokers and custodians while enforcing anti-money laundering (AML) and counter-terrorism financing (CTF) laws. Iran Focuses on Crypto for […]
Iran
Cryptocurrency Fluctuates Amidst Iran-Israel Conflict: Report
The global financial markets experienced tremors following Iran’s maiden military attack against Israeli soil, with cryptocurrencies being one of the key victims. A famous crypto journalist, Colin Wu reported through his post on Wu Blockchain X that the price of both Ethereum and Bitcoin dropped significantly after his platform was attacked. After the historic Iran […]
Elizabeth Warren’s Wake Up Call: Iran, Crypto & Controversy
Senator Elizabeth Warren has raised significant concerns about the lack of anti-money laundering [AML] laws applicable to certain sanctioned countries potentially profiteering by participating as validators in cryptocurrency transactions. In her recent post, Warren posted a scenario to Deputy Secretary of the Treasury Wally Adeyemo inquiring about the possibility of sanctioned nations like Iran being […]
Israel Captures Cryptocurrency Worth $1.7M From Iranian Military And Hezbollah
Despite the fact that crypto assets have drawn attention from all across the world, their use continues to have a negative connotation through illegal channels. The Israeli government recently revealed that digital assets had been used by the Iranian-backed Hezbollah armed group in Lebanon and the Quds Force of the Iranian Revolutionary Guard. Israeli authorities […]
Kraken Bows Down Before US Treasury, Agreed To Remit $360k
Kraken, the world’s second-largest crypto exchange by market cap has reached a settlement deal with the U.S. Treasury Department’s Office of Foreign Assets Control [OFAC] over allegations of serving customers in Iran, as per the statement released by OFAC. The U.S. Department of the Treasury’s Office of Foreign Assets Control [OFAC] today announced a settlement with […]
Bitcoin Advocate arrested by Iran Security Forces
Between Bitcoin, other cryptocurrencies, and authorities, there has always been a cold war. Regulators, including the U.S. Securities and Exchange Commission, have been imposing only minor restrictions and prosecuting egregious frauds for more than ten years while mainly permitting cryptocurrency to operate on its own. But when Gary Gensler was chosen by the Biden administration […]
Iran: Illegal crypto miners can no longer avail subsidized electricity
The Iranian administration has decided to pass new legislation, increasing penalties to prevent illegal cryptocurrency mining from using subsidized electricity, an official with the country’s Power Generation, Distribution, and Transmission Company [known as Tavanir] announced. According to the Tehran times coverage, the increase in punishments includes rising fines by a minimum of three and a […]
OpenSea Blocks Iranian Users Quoting US Sanctions
OpenSea, an NFT marketplace based in the United States, has blocked users based in Iran, according to reports from frustrated collectors and creators. An OpenSea spokesperson had the following to say about the company restricting users from sanctioned countries: “Users and territories on the United States’ sanctions list are barred from utilizing OpenSea’s services, including […]
Iran follows Turkey’s footsteps as govt. eyes ban on Bitcoin payments
The Middle East seemed to be taking down crypto while the rest of the world embraced it. Similar to Turkey, Iran could be banning payments in cryptocurrencies like Bitcoin [BTC]. With the cryptocurrency industry growing beyond expectations, governments across the globe started regulating it. Just as individuals have been taking a deeper look into these […]
Iran confiscates 7,000 Bitcoin miners operating illegally
Iranian authorities have reportedly confiscated 7,000 Bitcoin [BTC] mining machines that were functioning illegally in the country. According to the state media, this happened to be Iran’s largest seizure of cryptocurrency mining machines to date. The machines were found in a deserted factory west of the capital Tehran. This comes in the backdrop of Bitcoin’s […]