Tag: Iran

According to the local news agency Tasnim, Iran is allowing businesses to use crypto for import transactions amid the country’s efforts to circumvent sanctions. The approval for crypto use in imports appears to be part of a broader policy regarding crypto regulations. The new Iran law is allowing the use of crypto in the processing…

Dubai regulator issues regulations for virtual assets marketing Dubai’s Virtual Asset Regulatory Authority (VARA) sets market assurance and consumer protection guardrails for the virtual asset sector. On August 25, VARA announced regulatory guidelines on marketing, advertising, and promotions of virtual assets (VA) across Dubai. The regulations cover all forms of outreach, communications, and advertising, including…

As Tasnim agency reported Tuesday, citing Alireza Peymanpak, an Iranian official from the Ministry of Industry, Mine, and Trade, the country this week executed its first official order for importing goods via the crypto payment route, worth $10 million cumulatively. “This week, the first official import order registration worth 10 million dollars was successfully completed…

Crypto exchange Kraken is reportedly under investigation for allegedly violating federal sanctions and providing services to Iranians. The US Department of Treasury is investigating Kraken, the NYTimes sources said. The US Treasury Department has been keeping Kraken under the radar since 2019 and is also imposing a fine on the exchange, according to the news…

Iran’s government is taking steps in preparation for the launch of a new digital currency, referred to as the crypto rial. The monetary authority in Tehran hopes to initiate the project’s pilot phase within the next two months. The authorities of the Islamic Republic are taking the necessary measures to launch a pilot of the…

Iran’s Ministry of Energy has decided to cut down the supply of electricity given to the authorized crypto mines units of the country to ensure the enough power supply for the citizenry. This decision will be implemented on June 22, Tehran Times reported. A spokesman for the Iranian Energy Ministry, Mostafa Rajabi Mashhadi, said that…