Iran bans cryptocurrency dealings in country's banks

Iran has banned the country’s banks from engaging in cryptocurrency dealings. The ban has been imposed by the Asian country’s central bank over concerns related to money-laundering. The decision comes amid the ongoing currency crisis in the country.

“Banks and credit institutions and currency exchanges should avoid any sale or purchase of these currencies or taking any action to promote them,” reported state news agency IRNA quoting the central bank’s order.

For those who aren’t aware, Iran’s currency Rial recently hit an all time low over fears that the US will re-impose economic sanctions on the country. A decision related to this will be taken by the US president Trump next month.

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