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Iran Could Ban “Unapproved” Cryptos, BTC Among Them

The Central Bank of Iran may soon prohibit citizens from buying and selling some cryptocurrencies. Bitcoin is among them, reports CoinDesk.
According to the crypto media, soon the country's regulator may issue a report according to which all operations with “unauthorized” cryptocurrencies will be banned. But, residents will be able to use coins approved by the Central Bank.

Which coins will appear on the list of approved is still unknown. According to CoinDesk sources, bitcoin will not be among them, because the authorities want all BTC transactions to be settled in the national currency of Iran.

In addition, citizens can be forbidden to keep considerable savings in cryptocurrency.

As for crypto exchanges, the regulator may require them to obtain a license. Although CoinDesk sources haven’t disclosed what the licensing procedure will be about.

Now the customers of Iranian cryptocurrency exchanges are required to undergo a KYC check.

According to CoinDesk, the Central Bank of Iran will present this report and a full list of measures during the conference in Tehran, which will begin today.

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