Senior officials in the Iranian government stated that the activity of buying and selling other Bitcoin and crypto Cryptocurrency is illegal.
The governor's representative of the Iranian Central Bank (CBI) for new technology, Nasser Hakimi, said that bitcoin trading is illegal in the country, this ban might be intended as part of preventing money laundering and terrorist crimes.
In an interview, Hakimi warned the public of legal risks and investments related to cryptocurrency trading activities, outlining the high level of bitcoin volatility. Hakimi also said that concern about crypto advertising helped raise awareness of the bitcoin pyramid scheme promoted in the public.
The official also raised the issue of the need to draw the difference between cryptocurrency production and trade.
The related article Can traditional ATM support Cryptocurrency?
At the end of June, Iran's government announced that it would cut power for cryptocurrency mining activities to use new energy. Local energy officials reported a significant surge in electricity consumption allegedly due to increased crypto mining activities.
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