CBI Does Not Approve of Bitcoin

In what was the strongest rebuke of the Central Bank of Iran to cryptocurrencies yet, the governor of the monetary regulator has said it “does not approve of Bitcoin in any way”. Valiollah Seif also echoed his past remarks and told ICANA that even as deals with virtual currencies have gained some ground, people must remain very cautious as there is much risk involved. After the Cabinet’s meeting on Wednesday, the official added that the central bank will soon announce its clear position on cryptocurrencies. In the meantime, Seif noted that in light of the high risk associated with cryptocurrencies, “there are safer options for investors and taking such a gamble and irrational risk is not at all beneficial”.