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Dysfunctional States And State Crypto

Dysfunctional States And State Crypto (1)

French Finance Minister Bruno Le Maire has said that cryptocurrency will never replace a government’s sovereign currency. Le Maire’s comments were made in the light of growing concerns by regulators over Facebook’s intended launch of its own cryptocurrency in 2020. Mark Carney, Governor, Bank of England also said that the new digital currency will be under scrutiny to ensure it …


Iran Wants to Charge Bitcoin Miners “Real Price” for Power

Iran may soon ask Iran Bitcoin mining operators to pay the full price of electricity, if a report by the Financial Tribune is accurate. According to the report, Iran’s Minister of Energy Homayoun Haeri has said that crypto miners operating from Iran should be paying “real prices and not be subsidized by the government”. The state reportedly has an energy subsidy of …


Tehran’s Water Themed JCPOA Tower Would Double as Crypto Mining Center

iran, jcpoa, cryptocurrency, mining

In Iran, a visionary skyscraper which includes a cryptocurrency mining facility is on the drawing board as part of the 2019 Evolo Skyscraper Competition. Named the JCPOA Tower, the structure is essentially a complex water theme park rising to 1837 ft (560 meters) with an open tiered system which allows spectators to view the swimming pools and internal structures that …


LocalBitcoins Imposes Restrictions on Accounts Based in Iran

As a fallout from the recent US-Iran tensions, a major peer-to-peer cryptocurrency exchange, LocalBitcoins, has banned all its users based in Iran per their website. A response by LocalBitcoins to an Iranian user circulated in social media and local news websites read as follows, “If you have an account already, you will be able to withdraw your bitcoins, but you …


Central Bank of Iran Trails Blockchain to Revamp Financial System

Central Bank of Iran Trails Blockchain to Revamp Financial System

The Central Bank of the Islamic Republic of Iran aims for blockchain inclusion economy for the country’s financial system, as reported by news outlet AL-MONITOR. According to the report, in the past year, the Central Bank, through its technology division the Informatics Services Corporation, in partnership with blockchain solutions firm Areatak, has been developing a nation-wide blockchain platform dubbed Borna. …


Iranians Still Back Bitcoin, US Treasury Tightens Stranglehold

Iranians Still Back Bitcoin, US Treasury Tightens Stranglehold

As US sanctions continue to bite in Iran, Bitcoin and Bitcoin mining continue to serve as alternatives to circumvent banking institutions. However, these activities are now firmly under the US radar. Many Iranians have adopted the digital currency both in their own country and overseas to sidestep economic sanctions. The UK, traditionally a long-time favorite location for students, has also …


Iran Central Bank Puts Pressure on Bitcoin Payments

Iran Central Bank Puts Pressure on Bitcoin Payments

A new plan released today indicates that the Central Bank of Iran is to block the use of unapproved cryptocurrencies as a means of payment. The new report entitled “Obligations and Rules Regarding Cryptocurrencies” was released by the central bank claiming that “any cryptocurrency wallets will be used only for holding and transferring cryptocurrencies and integrating any kind of services …


Iran State-Backed Crypto Official Announcement Tomorrow

Iran State-Backed Crypto Official Announcement Tomorrow

A national cryptocurrency in Iran has been in speculation for months, but the official announcement for the launch is anticipated to finally come at the annual two-day Electronic Banking and Payment Systems conference. The conference begins on 29 January in the nation’s capital, Tehran, with the theme this year being ”blockchain revolution”. The primary reason Iran is speculated to be launching the cryptocurrency …


Iran’s Proposed Rial Revaluation Could Open Door for Bitcoin

Iran’s Proposed Rial Revaluation Could Open Door for Bitcoin

The Central Bank of Iran is proposing a further step towards the long-debated revaluation of the country’s national currency, the rial. It paves the way for Bitcoin to find more prominence in an already struggling economy. Central Bank governor Abdolnaser Hemmati made the following comments yesterday, suggesting that government mismanagement has finally led to the government being forced to take …


De-Dollarization: Russia’s Controversial $10 Billion Bitcoin Investment Rumor

De-Dollarization

Reports of a probable investment in Bitcoin by the Russia Federation in values of USD 10 billion, targeted at evading US sanctions, are making headlines. Most of the reports cite Russian economist Vladislav Ginko, who claimed to work with his state government. He took to Twitter responding to crypto analyst Chris Burniske‘s assessment of blockchain’s value (monetary perspective) relative to …


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