ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

Iran Bans Cryptocurrency Trade As Nuclear Deal Deadline Looms




The Central Bank of Iran has announced a ban on all cryptocurrency trades.

Iran's central bank has reportedly banned the trade of cryptocurrencies as well as their use in transactions. The prohibition applies to all financial institutions in the country.

The bank's Public Relations Department apparently related that the ban aims to preempt the use of cryptocurrencies in laundering money and funding terrorism.

The move comes mere weeks ahead of a May 12 deadline when US President Donald Trump is due to decide whether the United States will withdraw from a 2015 nuclear deal that has seen increased international monitoring of nuclear sites in Iran, among other terms. Trump has, on several occasions, voiced his displeasure over the agreement.

Under the deal, sanctions levied against Iran by the United Nations, the US, and the European Union were lifted. Between 2012 and 2016, sanctions cost the country a reported $160 billion in oil revenue. While it's unclear precisely how US withdrawal would impact the deal's terms, reimplementation of the suspended sanctions appears to be among the possibilities.

From this angle, it's plausible that the central bank's announcement was issued, at least in part, in anticipation of the reintroduction of those punitive measures so that in the event of their renewal, Iranians would be prohibited from swapping weakened rials for digital assets, further devaluing the nation's currency.

This is not the first time that Iran's central bank has spoken out against cryptocurrency. On February 21, the institution released a statement indicating that it did not recognize the legitimacy of any cryptocurrency within the country's borders and discouraging Iranians from purchasing such financial instruments, purportedly so that they would be shielded from risk.

In late December 2017, the head of the country's Securities and Exchange Organization said that the body was "reviewing Bitcoin's status for entering the country's economy and has not yet reached a conclusion, so if any brokerage buys or sells the cryptocurrency, it violates the law."

Also on February 21, it emerged that Iran's ICT ministry might conduct trials around an Iranian-developed cryptocurrency.

Adam Reese

Adam Reese is a Los Angeles-based writer interested in technology, domestic and international politics, social issues, infrastructure and the arts. Adam holds value in Ether, Bitcoin, and Monero.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Iran, cryptocurrency or other Ethereum cryptocurrencies and tokens news.