Friday , June 2 2023

Iran, Venezuela and Russia try to avoid sanctions with national crypto-cultures CryptoNews


In the last two years, the world government has recognized the importance of decentralized encryption and cryptographic exchange systems, as it is becoming increasingly difficult to ignore the Bitcoin-driven ecosystem.

Some countries have adopted strategies for the development of national chains, while others have shown an interest in the decentralized nature of cryptoscopes, as this is a way to circumvent the dependence on the traditional financial system. The governments of Iran, Russia and Venezuela, which have economic sanctions in several countries, have started projects for issuing their own national cryptula.


The Islamic Republic of Iran, which the US government has severely sanctioned over the last few weeks, announced a few months ago of its intention to launch a national cricket corps. In a statement issued in July this year, the Department of Management and Investment of Iran stated that the aim is to facilitate the "transfer of money to any part of the world" as a way to sanction Donald's Brief Administration.

The proposal for the "Endogenous" cryptography currency is managed by the National Central Bank and the Presidency's Technology and Research Directorate. None of these two government bodies have spoken about the network consensus algorithm, the sources or characteristics they are proposing to launch. However, a confidential document will ensure that the Iranian national criminals will rely on the Hyperladger Fabric block diagram and will not be divisible.

In accordance with this document applies to local media using Saeed Mahdiun, Director of Computer Services Corporations, is expected to act as an "interbank billing table and instrument" and later as an "instrument for making small payments in the country" in a kiosk.

With the findings so far, it can be concluded that, like other national cryptographic projects, the Iranian symbol will be centralized. Nor is it known how the issuance of this cryptographic emission would directly help local governments to avoid United States financial sanctions.

Meanwhile, the US Treasury Department, through the Financial Crime Control Network (FinCEN), warned that Iran is using cryptoculture to avoid US economic sanctions and disrupt the US financial system.

In this context FinCEN has published a document from 19 pages to "help financial institutions discover" and report "potentially unlawful deals related to Iran." Such measures are based on the fact that the administration Trump believes that the Iranian regime is a threat to the US financial system.

The regulatory environment inside Iran is also confusing because Cryptanal mining is recognized as an activity at the same time that bulletin marketing is prohibited.

We remind you that since April this year, the Iranian Central Bank (CBI) has banned the use of bitcoins as an instrument for money laundering. This measure led to the loss of bank support by the country's exchange houses, as all regulated financial entities are prohibited from processing cryptographic-related transactions.

The trade ban has not removed the British market in Iranian markets. Bitcoins continue to sell peer-to-peer platforms, such as LocalBitcoins, which still helps the Irish to reduce the high inflation rate from the local economy. However, the sanctions imposed on the new Iran affected the cryptography market.

The last November 7th Binance and Bittrex Exchange Home stopped providing their exchange services to Iranian citizens. According to the chairman of the Blockchain Community of Iran, Sefar Mohammadi, the decisions of these exchange houses and others that he did not mention seriously limit the encryption market in that country.


Thinking of the national crippling as "a useful tool"In order to avoid the financial sanctions imposed by the European Union and the United States, Russia has proposed the creation of a national krypton wagon two years.

Temporarily referred to as cryptorubThe Russian krytvulate is intended as a way for Russia to negotiate payments with its trading partners and reduce the impact of the United States on its economy.

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