The post Iran Cracking Down on Crypto Amid Economic Crisis appeared first on Coinpedia Fintech News
Iran is tightening control over cryptocurrencies as its economy struggles with rising inflation and a weakening national currency. The latest restrictions have left millions of crypto users in the country facing new challenges. At the same time, this crackdown has added more pressure to the global crypto market, which has already lost $500 billion in value over the past week.
Iran Blocks Rial Payments for Crypto
Last month, the Central Bank of Iran (CBI) suddenly stopped rial-based transactions in all cryptocurrency exchanges. This move affected over 10 million crypto users, preventing them from purchasing Bitcoin and other digital assets using the local currency.
The decision was aimed at slowing down the rial’s depreciation, as authorities fear people are converting their money into foreign assets to escape economic instability.
With inflation above 40% for years and i
We współpracy z: https://coinpedia.org/news/iran-cracking-down-on-crypto-amid-economic-crisis/
