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Austrian Delegates Propose Technique to Abolish US-Iran Sanctions

Stefan Sholz, Austria’s Ambassador in Iran, made a proposal in 2015 to stakeholders of the Iran Deal to create a nationwide cryptocurrency and blockchain strategy to approach the US government’s sanctions.


 

Sholz took to Twitter to post his opinions and potential ideas in order to better help Iran deal with US sanctions.

He stated that those in the JCPOA can promote their influence in the finance sector, particularly in the blockchain industry, by creating a national currency based on digital assets, and blockchain-based strategies. He thinks this can be the next step in transparency, especially in regards to the AML/CFT.  

Dealing with Sanctions

Sholz’s comments was a reaction to Forbes’ article stating that Russia and Iran are both looking towards BC tech in order to deal with sanctions in their finance industry.

Reports say that Iran’s government as begun preparing the initiation of their own crypto, and that the new coin aims to assist the country to bypass US sanctions and help them access the world’s economy.


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