Iran cryptocurrency project on track despite cenbank ban, minister says

Iran has developed an experimental neighborhood cryptocurrency, a government minister mentioned on Saturday, days after the country’s central bank banned trading in digital currencies which includes bitcoin.

Iran’s central bank last week prohibited nearby banks from dealing in cryptocurrencies due to issues about money-laundering because the country tries to halt a currency crisis ahead of a attainable return of crippling sanctions.

But Details and Communications Technology Minister Mohammad Javad Azari-Jahromi stated the regional project wouldn’t be impacted.

“The central bank’s (ban) doesn’t mean the prohibition or restriction from the use from the digital currency in domestic development,” he was quoted as saying by state news agency IRNA.

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