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Bitcoin btc Switch to Bitcoin LocalBitcoins Volume (Iran) trending_up. Updated weekly. Iran. Switch to BTC equalizer. open_in_new More Volume Charts. Support the Team Through site feedback, content submissions, and donations, you help Coin Dance realize its vision. Your donations directly support site development, content quality control. 9,,, IRR. 10,, – 2,,, IRR. Sell. Transfers with specific bank: Ayandeh. 7,,, IRR. 15,, – 55,, IRR. Sell. ←. 24/05/ · LocalBitcoins Bans Bitcoin Buying in Iran in Blow to Rising Crypto Commerce. LocalBitcoins has officially shut off service for Iran-based users, a Estimated Reading Time: 5 mins. 24/05/ · LocalBitcoins was the most used P2P bitcoin trading website in Iran, as no international cards were required and the users could pay using their local bank accounts. Bitcoin trader Soroush Hakimi said in a CoinDesk interview that: “Since I traded in relatively high volumes, LocalBitcoins was my best option because I could find good offers with real people.” He went on to say: “In local .

In an open letter to the Social Affairs Organization, the IBC chairman noted that monitoring the performance of blockchain ecosystem participants is the right of the association. He added that issuing and publishing warning lists for new users to avoid traps is also a mission for the IBC. High-risk Iranian companies involved in crypto were on the IBC warning list, so Mohammadi believes this is the leading cause of the ban.

According to the local media, a member of the parliament accused crypto-related domestic nongovernmental organizations of transferring foreign currency overseas. As one of the NGOs in the crypto and blockchain space, IBC denied the claim and said the association is focused on promoting blockchain technology in the country. Iranian President Hassan Rouhani said the country needs to legalize cryptocurrency activities to preserve and protect national interests.

He called for a joint study between different parties to establish a legal framework for cryptocurrencies. Source link. Save my name, email, and website in this browser for the next time I comment. Home News Blockchain Blogs Videos Market Regulation More Buy and Sell Wallet. Sign in.

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With public adoption on the rise, international cryptocurrency regulations continue to develop. On Sept. The Iranian government has accepted cryptocurrency mining as an industry and is now developing a regulatory framework for the sector, reports Iranian news agency IBENA. Price of BTC is nearly at its all time high in Iranian local currency. Bitcoin bull markets already started in Iran as Rial price goes down against USD.

ExchangeIran BitcoinIran Iran Bitcoin IranEconomy pic. According to IBENA, Firouzabadi supports the launch of a national cryptocurrency to be used as a financial transaction instrument with foreign trade partners and national allies. Last November, Firouzabadi told the Financial Tribune :. Studies are necessary for considering a new currency. Amid economic pressures from the U.

local bitcoin iran

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LocalBitcoins has officially shut off service for Iran-based users, a move that follows weeks of rising rial trading volumes on the platform. The Helsinki-based peer-to-peer exchange has not explicitly said why Iranians are suddenly being cut off from its service, though U. News of the move first circulated across local language Telegram channels earlier this week that the exchange had blocked Iranians.

Users reported encountering problems in posting new trades and updating previous ones on the website. According to Iranian users, the website was also open to reviewing local bank account documents to resolve potential problems, signaling that they have advisors familiar with the largely isolated Iranian banking system. Moreover, LocalBitcoins was trusted by Iran-based bitcoin users because it holds funds in escrow until both sides have given final confirmation, thereby ensuring transaction safety and lowering fraud.

For instance, you can barely find two bitcoins for sale in any given day. LocalBitcoins did not respond to several requests for comments by CoinDesk on the reasons behind its decision to ban Iranians. Just over a year ago, U. Legitimate Iranian crypto users have already felt the sting of sanctions several times during the past year as multiple exchanges, including Binance, Bittrex and ShapeShift have stopped offering services.

According to Milad Jahandar, CEO of Iranian fintech Bahamta, the elimination of Localbitcoins as one of the few remaining viable options for Iranian bitcoiners will lead to more fraud in cryptocurrency-related commerce. Jahandar also believes that excluding users from any country due to political reasons runs counter to the very decentralized nature of bitcoin. Still, local Iranians seeking to buy and sell cryptocurrency are not without options.

Programmer Ziya Sadr says two alternatives to Localbitcoins have already proven to be better and are attracting Iranian users.

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Thirty Bitcoin mining farms in Iran received operational licenses last week as the government softened its stance on the crypto market, local outlet Financial Tribune reported. Such a process, however, requires massive amounts of energy for the maintenance, cooling, running of the machines. The high requirements lead to widespread concerns among authorities, with some countries even eradicating the activity outright.

Iran is one of the hotbeds of crypto mining, but not all is fine: Earlier this month saw the government seize 7, mining rigs from local operators citing heightened energy usage during summer months and the strain on the electric grid. Six farms in the Semnan Province were licensed the region received the highest number of licenses , four farms in the Alborz Province were licensed, while miners in Mazandaran, East Azarbaijan and Zanjan provinces bagged a few licenses as well.

Only one mining operator from the Tehran Province, meanwhile, received the license. Iran additionally issued 2, establishment permits, of which alone were for Zanjan Province, permits went to Fars Province, and permits went to West Azerbaijan. Much of the allure comes from the many benefits—such as creation of jobs and revenues from taxes—to the economy by allowing mining operators to continue, and the licenses seek to achieve just that.

Miners have since migrated to other countries, such as the US and Kazakhstan, while nations like El Salvador are toying with a state-owned mining farm powered by volcanic activity. Access more crypto insights and context in every article as a paid member of CryptoSlate Edge. A forgery crisis is disrupting the global gold industry, reported Reuters, emphasizing the need for an easily verifiable store of value—like Bitcoin.

CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article.

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Michael Sexton , Brett Sudetic. The government, however, rather than taking responsibility and blaming supply-side issues has instead pointed its finger at a relatively new phenomenon in Iran: large-scale Bitcoin mining. They use large collections of computer servers to verify digital bitcoin transactions i. With cheap, subsidized electricity and tacit or even full approval from the government, foreign companies from countries like Turkey and China have also set up shop in Iran to mine the digital currency, taking advantage of these local competitive advantages much like a petrochemicals company would benefit from cheap feedstock by building a plant in a natural-gas producing country.

These farms are part of a bigger cryptocurrency movement that has taken hold in Iran. In recent years, both the Iranian government and regular citizens have sought to leverage cryptocurrencies to engage in international commerce without having to rely on the U. Isolation from the global financial system, inflation, low growth, and an overall poor economic situation have pushed Iranians to dabble in cryptocurrencies as an investment asset and a method of payment.

Inflation and a weakening national currency have had the most salient impact. Food price inflation, for example, reached 43 percent in May, with studies showing that Iranian households have even changed their diets to reduce consumption of increasingly expensive red meat, poultry, dairy, and other food products. Sanctions have also cut Iran off from the global financial system and hampered its ability to trade internationally. Companies like PayPal, Visa, MasterCard, and other online payment systems do not provide services in Iran, making it difficult for Iranians to transfer money and make purchases online.

Dwindling foreign currency reserves and hesitation among foreign companies to engage in trade have made it particularly difficult for the country to import goods and conduct trade generally. Bitcoin, initially banned in Iran, has become something of a cottage industry as the country has sought reprieve from the U.

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The move to recognize cryptocurrency mining comes as the country is taking efforts to create its own central bank digital currency as a means to bypass the U. CoinDesk also reported in July that cryptocurrency investors in Iran then appeared to be facing restrictions from the state, with users being blocked from accessing accounts at exchanges such as Binance, even if using virtual private networks or VPNs. Azadi Tower, Tehran , image via Shutterstock.

Read more about Prices Mining Iran News Central Bank Digital Currency Central Bank of Iran. Disclosure The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups.

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Buy Bitcoin with Bank Transfer in Iran. Buy BTC, ETH, DOT, USDT, and more cryptos worldwide using + payment methods. LocalCoinSwap is fast, easy, and private. Get your free wallet & account today! How to buy Bitcoin on LocalCoinSwap. It’s easy and secure. All you need is 5 mins. 1. 07/09/ · The Iranian government has accepted cryptocurrency mining as an industry and is now developing a regulatory framework for the sector, reports Iranian news agency IBENA. Following news of the formal approval, Bitcoin (BTC) rallied to a record high of 1,,, Iranian rials (~$24, USD) on local cryptocurrency exchange Exir.

In the letter to the Social Affairs Organization, the IBC chairman noted that monitoring the performance of the blockchain ecosystem participants with the right of the association. He added that issuing and publishing warning lists for all new users to avoid traps is a mission for the IBC. The High-risk Iranian companies that were involved in crypto were on the IBC warning list so Mohammadi thinks that this is the leading cause of the ban as he added:.

They managed to publicize the notice before IBA was informed. As one of the NGOs in the blockchain space, IBC denied all claims and said that the association is focused on promoting a blockchain technology future in the country. After a summer ban for mining, Iran is seeking improved regulation for crypto as Iranian President Hassan Rouhani said that the country needs to legalize all crypto-related activities to preserve and protect national interests.

He called for a joint study between different parties for establishing a legal framework for crypto. DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected].

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