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I heard that Iran is exploring cryptocurrency usage. Is it true?


Nick Robinson

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Iran has been trying to introduce a cryptocurrency to its ecosystem since 2017. Iran’s plan to fight international sanctions by using a state-sponsored cryptocurrency has been known since November 2017. It seems that it is still a viable option in the eyes of officials. Iran had been cut off from the global economic community up until 2015 and once again in 2017. The reasoning behind the sanctions is their continuation of nuclear program development. Even despite the sanctions, Iran does not seem to want to submit itself to international pressure. American regulators are trying to block cryptocurrency usage as an alternate means for trade in Iran, while it is stated that the acquisition of the USD is already banned in the country. After the 2017 sanctions, Iran has been trying to introduce a state-sponsored cryptocurrency as a means of transaction and has asked many countries for support (Germany, France, and the United Kingdom as the most influential ones).
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