The Central Bank of Iran has officially prohibited all financial institutions, including banks and credit institutions, from handling cryptocurrencies.
According to a statement published on CBI's official website on Sunday, the decision to ban all monetary and financial institutions from using Bitcoin and other cryptocurrencies was taken during the 30th meeting of the High Council of Anti-Money Laundering on Dec. 30, 2017.
The CBI decision is rooted in cryptocurrencies' shadier side and Iran's drive to adhere to global standards on transparency in financial transactions.
Business And Markets
Iran Business And Markets News, Get the latest business news about Iran including banking, stock market, real estate market, steel industry, mining, trade finance, fintech and insurance.
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04/22/2018The Central Bank of Iran has officially prohibited all financial institutions, including banks and credit institutions, from handling cryptocurrencies. According to a statement published on CBI's... -
04/22/2018The Central Bank of Iran expects gold coin prices to approach their real levels in the next few weeks, the director of CBI’s Office for Banknote Issuance said. “As presold gold coins gradually and... -
04/22/2018Tehran Stock Exchange’s main index lost 257.93 points or 0.27% on Saturday compared to the day before to end trade at 95,265.9. About 552 million shares valued at $35.22 million changed hands at... -
04/22/2018In its latest report titled “Short Range Outlook for 2018-19”, the World Steel Association (Worldsteel) forecasts that Iranian steel demand will increase by 5.5% to 21.05 million tons by the end of... -
04/22/2018 -
04/22/2018Governor of the Central Bank of Iran has provided further details about the new Forex Deals Integrated System, noting that it will reposition banks as the main market player, promote transparency... -
04/22/2018Iraqi Acting Minister of Industry and Minerals Mohammad Shia al-Sudani and Iranian Defense Minister Amir Hatami signed a cooperation agreement on military industrialization in the Iraqi capital... -
04/22/2018More than 63.9% of Iranians are willing to purchase locally-made products provided they have satisfactory quality and reasonable prices, a survey conducted by Iranian Students’ Polling Agency... -
04/22/2018The Central Bank of Iran has focused on encouraging people to entrust their foreign currency banknotes to the banking system and according to the regulator’s director of the Department for Foreign... -
04/21/2018It is too soon to pass judgment on the administration’s decision to fix the US dollar’s exchange rate at 42,000 rials, the deputy economy minister for banking and insurance said. Abdolrahman Nadimi... -
04/21/2018A ferrochrome plant with a 60,000-ton per year capacity was inaugurated in Kerman Province’s Rafsanjan Special Economic Zone on Thursday. Launched in the fiscal 2014-15, the project was... -
04/21/2018Iran’s two major coal production companies had a total output of 675,808 tons of coal concentrates in the last fiscal year (ended March 20, 2018), indicating a 12% rise year-on-year, the Iranian... -
04/21/2018As a Swedish business delegation met with their Iranian counterparts at the Tehran Chamber of Commerce, Industries, Mines and Agriculture on Wednesday, the ambassador of the Scandinavian nation... -
04/21/2018Iran’s banking system is now preparing a new credit card scheme for supporting locally produced goods, following a previous plan that failed to take off. “In the meetings that we had with state-... -
04/21/2018Coming out of a relatively good year, Tehran stocks had a tumultuous month ridden with ambiguities in the first month of the new fiscal year, Farvardin (March 21-April 20). TSE’s main index TEDPIX... -
04/21/2018Iran’s largest holding, the financially troubled Social Security Investment Company, also known by its Persian acronym Shasta, has called on the government to help finance several infrastructural... -
04/21/2018Lawmakers have revised regulations for the ownership of non-governmental banks and credit institutions, which will remove ambiguities surrounding the ownership of these entities in the past. ... -
04/21/2018Flat steel import trade in Iran has been almost non-existent in the past several weeks, because... -
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04/19/2018The 25th International Exhibition of Detergent, Cleanser, Hygienic Cellulose Products and Machinery, also known as “Iran Beauty and Clean 97”, is scheduled to open at Tehran’s International... -
04/19/2018Iran’s agricultural and food exports amounted to around 6.13 million tons worth $5.93 billion in the last Iranian year (March 2017-18), registering a 5% and 4% growth in weight and value... -
04/19/2018More than 1.75 billion transactions worth more than 1.91 quadrillion rials ($45.47 billion) were registered by Shaparak, Iran’s payment settlement network, in the final month of the previous fiscal... -
04/19/2018China’s Shandong Linglong Tire Company (Linglong) is reportedly hesitant about going ahead with... -
04/19/2018Tehran Stock Exchange’s main index gained 1.19 points on Wednesday compared to the day before to end trade at 95,523.9. About 426 million shares valued at $26.04 million changed hands at TSE for... -
04/19/2018Iran Air, the country’s flag carrier, will take delivery of 14 brand-new airplanes, include three Airbus jets, three Boeing jets in addition to eight ATR turboprops, by the end of 2018, if it...
