In October 2017, the Iranian government all but decided to implement Bitcoin as a means to completely bypass sanctions, while also allowing citizens to conduct international trades otherwise not possible. Now, however, the Islamic Republic on the Persian coast has changed its mind.
A Foolish Inconsistency
According to the independent Iranian news site Iran Front Page (via Fortune), the Republic’s central bank claims it never recognized, nor planned on recognizing, Bitcoin as an official currency. It also denies all claims that it was actively facilitating Bitcoin transactions to circumvent sanctions while making some rather bearish statements on cryptocurrencies in general:
The wild fluctuations of the digital currencies along with competitive business activities underway via network marketing and pyramid scheme [tactics] have made the market of these currencies highly unreliable and risky.
Interestingly, Iran’s central bank is not only claiming to be disinterested in cryptocurrency but is actively looking to “control and prevent digital currencies” in the country.
If You Can’t Beat ‘Em…
Though many Iranians are already accustomed to the decentralized benefits of Bitcoin and other cryptocurrencies, the country’s government is not. However, as is almost always the case, Iran’s anti-crypto stance coincides with a very pro-blockchain sentiment…