Iran may ban Bitcoin and other Crypto payments

[wry]

In the classic one step forward and two steps back for Bitcoin and crypto acceptance Iran announced that their central bank is considering not allowing the use of "unapproved" crypto currencies and requiring all transactions to be settled in their national currency the rial.

While holding cryptocurrencies may not be prohibited, there would be no ability to integrate any services on wallets.

This really bums me out because decentralized currencies like Bitcoin could really help the people of Iran cope with the economic sanctions that have been place on that country and the potential economic chaos that can ensue.  This is just another example of economic repression on the people of Iran who already are limited to holding no more than 10,000 euros outside of their regulated bank accounts.

Anyway, I thought it was a really interesting news article and would be interested in your thoughts!

Link to article:  https://www.coindesk.com/iran-could-ban-bitcoin-for-payments-central-bank-report-suggests

[williamshennie9]

I'm surprised certain countries have not banned it already. Most countries with economic problems and those countries that like censorship you would expect to have banned crypto all together.

[xtinepink]

Some banks are just too scared about cryptocurrencies and what they do is that they control people’s account for instance. As they say on Twitter, Long bitcoin and short the banks!  😂 

[DviouS]

oh no... not iran! x_x   Do your bitcoining on the darkweb iranians, fuck what they are talkin about... 

[blueprints]

It is unpleaseant hearing countries make bitcoin illegal, but atleast bitcoin is still allowed in a big portion of the world! Do you guys think if lets say the rest of the world accepts and has bitcoin legal, that the countries who have bitcoin as illegal will follow and change their minds? 

Perhaps all hope isnt lost with these countries. I think they will find ways that they can benefit and grow with bitcoin and become more relaxed and accepting with cryptocurrencies. 

[KiXxnTRiXx]

Thats pretty sad.. I still dont get why some countries are so against this.. well i gave an idea why, but its just my personal opinion so ill keep it to myself.. hopefully people in Iran are fighting this.. i guess its different there than here in Canada.. Different rules and culture.. not so easy to fight the government..

[athena2007]

well nothing new from them iranians.. always want to push the people down.. sad state of affairs from thier goverment 

[polor12]

i think they are well off.. actually they are the main distributors or miners for btc from exchange platforms..pax and local..

[Kate]

On 1/30/2019 at 3:21 AM, wry said:

 not allowing the use of "unapproved" crypto currencies and requiring all transactions to be settled in their national currency the rial.

 

What do you mean by unapproved cryptocurrencies ? Is it like some cryptocurrencies like Litecoin is approved by the government and Bitcoin isn't approved by the government ? 

[wry]

18 hours ago, Kate said:

What do you mean by unapproved cryptocurrencies ? Is it like some cryptocurrencies like Litecoin is approved by the government and Bitcoin isn't approved by the government ? 

Exactly what it says, approved by the government.  Right now I expect the only currency they will approve is their own, hence making the holding of Bitcoin illegal, as the title stated.

[bmg]

That really is a sad to see because like you said Wry it would help out there economy if they would just accept it.   So many countries have had such great benefits from crypto currency  being introduced to them and has had major impact on economies.