Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 11975
Markets: 92589
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
11975
Cryptocurrencies
54.28%
Bitcoin Share
NewsBTC 2024-12-10 15:49:16

Iran Attempts To Nullify The Impact of Global Sanctions By Turning Focus On Crypto

Iran Attempts To Nullify The Impact of Global Sanctions By Turning Focus On Crypto

In a strategic shift from its stance on digital currency, Iran has decided to regulate the crypto industry instead of restricting it. The decision was announced by the Minister of Economic Affairs and Finance Abdolnaser Hemmati at a national event in Tehran, where he said that they aim to minimize the risks associated with crypto while reaping all its benefits. The country’s Central Bank will be in charge of managing all the digital assets. From laying down the regulatory framework and helping financial institutions adopt digital assets to monitoring transactions and ensuring compliance, it’s all up to the Central Bank . It has already published a set of guidelines regarding tax compliance and anti-money laundering measures. Currently, Iranian investors hold between $30B and $50B worth of crypto assets, roughly one-third of the company’s total gold market. The Crucial Timing of the Decision The timing of this decision couldn’t have been better. Hemmati believes that will have several benefits: Attract domestic and foreign investors Create more job opportunities and drive employment among the youth Integrate Iran with the global economy and simplify its access to a much broader range of financial services (those that only allow crypto transactions) But there’s one major reason that beats everything else – protection from sanctions. As Donald Trump prepares for his second term in the White House, Iran must brace itself. The first time Trump was president, he withdrew the Iran nuclear deal. One of the reasons he cited was that the deal was one-sided, benefitting mostly Iran and not bringing much of the peace it promised to the other countries. Note : The Iran Nuclear deal , also known as the Joint Comprehensive Plan of Action (JCPOA), is a landmark agreement between Iran and the superpowers of the world (including the USA) under which Iran promised to dismantle its nuclear program and allow the other countries to closely inspect its nuclear facilities in return for relief from billions of dollars worth of sanctions. Will the US Impose Sanctions? With the sanctions back, Iran’s economy took a massive hit, and the country has been struggling ever since. Hence, now that Trump is back, there are rumors that he might revive his so-called ‘maximum pressure policy’ against Iran with more sanctions. The chances of a revival of this policy seem low. JPMorgan analyst Arun Jayaram states that imposing more sanctions on Iran can severely affect the global oil supply, removing approximately 1 million barrels of oil per day from the supply chain. But you never know with Trump, so Iran has wisely decided to buckle up . Iran is making other compromises as well. For instance, on Tuesday, the UN declared that Iran has decided to stop producing enriched uranium that it could use to make bombs. Also, new Iranian President Masoud Pezeshkian had previously said that establishing cordial relations with the West, getting relief from sanctions, and restoring ‘normality’ to Iranians is his primary goal for this term.

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
54.28%
Bitcoin Share
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.