Iran Continues to Develop State Cryptocurrency Despite Central Bank Ban

[CebuBitcoin]

Iran has been developing its own cryptocurrency, a project which has yielded an experimental local crypto, despite the country’s central bank banning banks from dealing with cryptocurrencies. Iran’s Information and Communications Technology Minister has shed light on the project, commented on its alleged use to evade sanctions, and clarified the central bank’s action.

Iran’s Crypto Project

Iran’s Information and Communications Technology (ICT) Minister, Mohammad Javad Azari-Jahromi, revealed on Saturday that “Iran has developed an experimental local cryptocurrency,” Reuters reported him saying. “Last week, at a joint meeting to review the progress of the (local cryptocurrency) project, it was announced that the experimental model was ready.”

His statement follows the ban by the Central Bank of Iran (CBI), prohibiting banks and financial institutions from dealing with cryptocurrencies such as bitcoin. The minister clarified that the ban will not affect Iran’s cryptocurrency efforts. The news outlet conveyed:

       "Iran cryptocurrency project [is] on track despite cenbank ban."


Read more: https://news.bitcoin.com/iran-develop-cryptocurrency-central-bank-ban

[Thanos]

This similar action was done by Indian central bank 
One section of the Government banning crypto dealings and the other section implementing an experimental crypto dealings.
i consider this a two face action.
Crypto is here to stay face it or stay away from it.
People and industries embracing crypto and coming up with innovative ideas. I respect you'll keep up the good work.