• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Saturday, January 28, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

Iran Begins Paying for Imports with Cryptocurrencies

August 10, 2022
in Trading
Reading Time: 3 mins read
A A
ShareShareShareShareShare

Related articles

SEC Probes Investment Advisors’ Use of FTX for Client Funds

January 27, 2023

FTX’s Huge Creditor List Includes Some of SBF’s Close Partners

January 26, 2023

The import request made by the Iranian government this week was confirmed by the Tasnim agency, according to Reuters. This measure was taken by the Islamic Republic to avoid the strong US sanctions that have brought the economy to the brink of paralysis.

Since the imposition of sanctions, Iran has tried to make the most of its thriving crypto industry. This is despite the fact that Bitcoin mining was accused of causing widespread blackouts in the country due to high energy consumption, and the government had to temporarily suspend mining last year.

The first official import order with cryptocurrencies was issued for a value equivalent to 10 million dollars. In this way, the country enters a new phase for the trading of digital assets with the intention of circumventing the rules of the global financial system.

Cryptocurrencies Will Facilitate Trade to Iran

Iran will be able to trade more easily with other countries on which the US has imposed economic and financial sanctions such as Russia and Venezuela. Both countries have a very active cryptocurrency trade.

The Islamic nation has recently signed numerous agreements in the oil and agricultural area with Venezuela. With Russia, it has strong commercial ties and now also in the military field as a supplier of drones and rockets for use in Ukraine.

The semi-official Iranian news agency did not specify which cryptocurrency was used in the trading operation.

“This week, the first official import order registration worth 10 million dollars was successfully completed using cryptocurrency,” Alireza Peymanpak, an Iranian official with the Ministry of Industry, Mines and Trade, said on Twitter.
“By the end of September, the use of cryptocurrencies and smart contracts will be widely used in foreign trade with target countries,” he added.

The sanctions imposed by the United States include a series of prohibitions on import and export operations in the oil, financial, and maritime trade sectors.

Since 2020, the country has encouraged Bitcoin mining to deal with economic problems generated by the US trade embargo. Miners have found in Iran a cheap source of energy to mine the cryptocurrency.

  • This year, Iran is among the top ten countries with the highest hashrate in the world, according to a study by Statista.
  • The country of the ayatollahs is using Bitcoin mining as a source of income and a shield against US sanctions.

 

The European Union, which is trying to revive the 2015 Iran nuclear deal, presented a “final” text this week after indirect talks in Vienna between US and Iranian officials.

The US-Iran nuclear deal was dissolved by then-President Donald Trump in 2018. Since then, US economic sanctions have been reinstated and Iran has reactivated its nuclear program.


Credit: Source link

ShareTweetSendPinShare
Previous Post

Justin Sun Starts Trading Ethereum Potential Hard Fork Tokens Earlier Than Scheduled

Next Post

SEC orders Bloom Protocol to register BLT token as security or face $31M fine

Related Posts

SEC Probes Investment Advisors’ Use of FTX for Client Funds

January 27, 2023

A new SEC probe could make it harder for institutional investors to hold crypto amid a broader crackdown on digital...

FTX’s Huge Creditor List Includes Some of SBF’s Close Partners

January 26, 2023

As its bankruptcy unfolds, the public is getting more and more information about FTX’s reach in the crypto space and...

TON Joins BTC and ETH as Only Crypto Assets with Options Trading

January 26, 2023

TON network could soon get a significant boost in trading volume and interest, thanks to the launch of TON options. ...

Crypto.com Tightens Security, First CEX with ISO Certification

January 26, 2023

Hacks and data breaches have been one of the biggest concerns for crypto firms and investors. To address this issue,...

Crypto market liquidation tops $200M in 24 hours

January 25, 2023

After a weeklong rally that pushed Bitcoin (BTC) value above $23,000, the crypto market experienced a significant sell-off in the...

Load More
Next Post

SEC orders Bloom Protocol to register BLT token as security or face $31M fine

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

What Makes LUNA Special, and is The Digital Asset Favorable?

January 16, 2023

AAVE/USD Touches New Daily High at $91.27

January 17, 2023

THETA Breaches $1 Level Courtesy Of Solid On-Chain Developments

January 22, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • Amazon Developing Blockchain & NFTs Gaming Platform: Report
  • Goldman Sachs Ranks Bitcoin Best Performing Asset so Far This Year – Markets and Prices Bitcoin News
  • New York introduces bill to legalize crypto payments for state purposes

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$23,103.001.21%
  • ethereumEthereum(ETH)$1,597.641.82%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.000.05%
  • usd-coinUSD Coin(USDC)$1.000.09%
  • binancecoinBNB(BNB)$307.661.40%
  • rippleXRP(XRP)$0.4112160.96%
  • binance-usdBinance USD(BUSD)$1.00-0.01%
  • cardanoCardano(ADA)$0.3884384.16%
  • dogecoinDogecoin(DOGE)$0.0876963.01%
  • matic-networkPolygon(MATIC)$1.145.39%
  • okbOKB(OKB)$39.5210.80%
  • solanaSolana(SOL)$24.422.42%
  • staked-etherLido Staked Ether(STETH)$1,595.051.85%
  • polkadotPolkadot(DOT)$6.582.85%
  • shiba-inuShiba Inu(SHIB)$0.0000122.87%
  • avalanche-2Avalanche(AVAX)$20.9617.13%
  • litecoinLitecoin(LTC)$88.601.80%
  • tronTRON(TRX)$0.0632432.44%
  • daiDai(DAI)$1.000.06%
  • uniswapUniswap(UNI)$6.812.54%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,109.001.50%
  • cosmosCosmos Hub(ATOM)$13.685.80%
  • ToncoinToncoin(TON)$2.555.86%
  • leo-tokenLEO Token(LEO)$3.987.44%
  • chainlinkChainlink(LINK)$7.394.68%
  • moneroMonero(XMR)$179.525.36%
  • ethereum-classicEthereum Classic(ETC)$21.972.05%
  • AptosAptos(APT)$17.93-0.89%
  • bitcoin-cashBitcoin Cash(BCH)$134.230.80%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • stellarStellar(XLM)$0.0934492.31%
  • apecoinApeCoin(APE)$6.302.59%
  • quant-networkQuant(QNT)$151.612.74%
  • nearNEAR Protocol(NEAR)$2.595.72%
  • crypto-com-chainCronos(CRO)$0.0820803.29%
  • filecoinFilecoin(FIL)$5.441.65%
  • lido-daoLido DAO(LDO)$2.394.50%
  • algorandAlgorand(ALGO)$0.2619307.93%
  • vechainVeChain(VET)$0.0248125.00%
  • hedera-hashgraphHedera(HBAR)$0.0689963.20%
  • internet-computerInternet Computer(ICP)$6.015.16%
  • axie-infinityAxie Infinity(AXS)$11.742.75%
  • decentralandDecentraland(MANA)$0.728.27%
  • aaveAave(AAVE)$86.940.49%
  • the-sandboxThe Sandbox(SAND)$0.765.63%
  • eosEOS(EOS)$1.11-0.26%
  • fantomFantom(FTM)$0.465590-1.62%
  • flowFlow(FLOW)$1.091.75%
  • theta-tokenTheta Network(THETA)$1.127.39%