Iran To Use Crypto As Antidote For US Sanctions 

Iran to use of crypto to bypass US sanctions

Iran has decided to use of cryptocurrency for trading across its borders against US sactions.

[{"selector":"#anim-41d68949-13c9-4200-9aca-13058e1767f9","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-990ff305-47a8-46b7-84db-7e62c4a962df","keyframes":{"transform":["translate3d(-75.19142%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Iranian Trade minister Reza Fatemi Amin announced on Monday that the country will be accepting crypto for import purposes as per the local news.

[{"selector":"#anim-b61a7c77-ef11-41d2-907e-c27fbfccd6f0","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-edd44662-ddc8-4e59-95ff-336c3a9aa3b5","keyframes":{"transform":["translate3d(-92.41803%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The minister also stated that cryptocurrencies will be used instead of the dollar and euro for import.

[{"selector":"#anim-df98d4ff-221a-4c07-84f3-45593dcb38eb","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-663489af-adbb-4eb1-b147-c2f1998ca31b","keyframes":{"transform":["translate3d(-92.21312%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The measure is seen as a response to the latest regulations imposed on crypto in the United States.

[{"selector":"#anim-80f61a77-ff78-4f3e-89c4-b1b479f1b6de","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e2446015-6b95-4262-9e18-b93494b83e6f","keyframes":{"transform":["translate3d(-92.62295%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Minister Reza stated that "all the issues related to crypto-assets, including method of supply of fuel and energy and how to assign and grant licenses are planned."

[{"selector":"#anim-937ce0e7-a17c-4896-95fa-a1cfe5fd0436","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c237403a-183b-4158-82ae-28961f8c74d4","keyframes":{"transform":["translate3d(-92.21312%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

By the end of September crypto and smart contracts are expected to be used in foreign trade with selected countries.

[{"selector":"#anim-879f8178-f822-4c6b-970e-f6066a7cd95b","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c01f8637-30e5-4997-9502-da8d56af9376","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Earlier in August, Iran ran a successful TestNet by making its first official import cryptocurrency order of $10 million.

[{"selector":"#anim-b66d265e-57dc-47a9-b586-8dbbda7516d0","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2ef1ce77-2f91-431b-a8c5-b48f2c75043a","keyframes":{"transform":["translate3d(-92.46032%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f8eb2e40-62f9-4643-b456-fbaa1e6b3e8b","keyframes":{"transform":["translate3d(-219.29823%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-8c6a6a71-cbcb-492b-a0e8-c19881197431","keyframes":{"transform":["rotateZ(-180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] More Crypto Stories...