RATE Group | Iran plans national cryptocurrency to evade US sanctions
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Iran plans national cryptocurrency to evade US sanctions

30 Aug Iran plans national cryptocurrency to evade US sanctions

Posted at 07:11h in Cryptocurrency News by

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Iran has unveiled plans to launch its own national cryptocurrency, partly in response to crippling economic sanctions imposed by the US. 

The Central Bank of Iran revealed finalised details about the “indigenous cryptocurrency”, according to Iranian news agency Ibena, which explained that it will be backed by Iranian rials.

The state-backed cryptocurrency will be similar to bitcoin in that transactions are carried out on an online ledger called a blockchain, however it will not be possible for people to mine it…

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