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Companies in Iran can use digital assets in their import transactions to circumvent sanctions. Tasnim reported that this was due to an agreement between the Ministry of Industry
Companies in Iran can use digital assets in their import transactions to circumvent sanctions. Tasnim reported that this was due to an agreement between the Ministry of Industry and the country’s Central Bank.
The initiative is contained in the new law approved by the presidential administration. This document also defines the rules for cryptocurrencies and electricity supply for mining.
Tehran plans to replace transactions previously denominated in US dollars or euros.
Recall that in August, Iran carried out an import operation of $ 10 million with payment in cryptocurrency, according to the media.
In July, The New York Times allowed OFAC to fine the Kraken bitcoin exchange for violating its sanctions regime. The platform can serve 1522 users from Iran.
Earlier, Reuters reported that Binance continues to serve customers from this country, bypassing the sanctions imposed by Washington.
In October 2021, the US Treasury issued instructions for participants in the crypto industry to comply with sanctions.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
