Iranian Government Censors Crypto Exchanges, more Citizens turn to BTC

Iranian Government Censors Crypto Exchanges, more Citizens turn to BTC

cryptocurrency exchange General
July 4, 2018 by Sandra Onyeiwu
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Crypto exchanges are a no-go area in Iran as Iran’s government has taken a significant role in censoring crypto exchanges in Iran, ahead of the scheduled renewal of U.S. sanctions that are to take place in August and November this year. Several Iranian citizens told the publication that they are having trouble accessing crypto exchanges like Binance, Blockchain,
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Crypto exchanges are a no-go area in Iran as Iran’s government has taken a significant role in censoring crypto exchanges in Iran, ahead of the scheduled renewal of U.S. sanctions that are to take place in August and November this year.

Several Iranian citizens told the publication that they are having trouble accessing crypto exchanges like Binance, Blockchain, and LocalBitcoins even with virtual private networks (VPNs).
“Every crypto exchange in Iran [has been] filtered since May,” one Iranian Bitcoin advocate told CoinDesk.

The censorship comes at a time when an increasing number of Iranians rely on Bitcoin and other cryptocurrencies for financial stability and empowerment.

Ahmad Khalid Majidyar, director of Iran observed Project from the Middle East Institute also declared for CoinDesk that the government is keen on not allowing its citizens to transfer foreign currency, especially dollars, outside the country.

And many people are using bitcoin as hedge instrument because buying BTC is easier than going into the black market to buy yourself US dollars.

Most experts agree that the current economic crisis, one tied to international relations, has spurred Iranian authorities to seek strict controls on cryptocurrency. In light of the political situation, the censorship has been a long time coming.

 

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