CBI rejects crypto as means of payment

Given the above issue, bitcoin and other cryptocurrencies has not thus far been introduced as the official currency by the CBI, so that this bank does not have any activity and partnership in transaction of these currencies at all, CBI reported.

In this regard, it is necessary to emphasize that severe fluctuations in the value of cryptocurrencies and speculative activities through network marketing towards them have led to the uncertainty and outbreak of high risk for these currencies.

Generally speaking, dear fellow countrymen are recommended not to expose their capital to these currency types.

It is necessary to mention that mechanisms for controlling and monitoring supply of cryptocurrencies is underway in cooperation with the Central Bank of Iran and other concerned institutions, so that policies taken by the CBI will be notified after full review of the issue, CBI concluded.

/SR