The Iranian government has moved this week to block activities of the Iran Blockchain Association, the Financial Tribune business daily reported on Sunday.
According to a notice published by the Persian-language newspaper Hamshahri Online on Wednesday, IBA was also ordered to submit detailed reports about its financial performance and activities to Iran’s Social Affairs Organization.
Earlier in June, a member of the Iranian parliament, Rahim Zare, accused “domestic NGOs involved in cryptocurrencies” of transferring foreign currency overseas, without providing any evidence to support the claim.
The new government notice was never delivered to the association and its board members, the head of the IBA Sepehr Mohammadi said in a press release on the its website.
With rising crypto prices over the past year, a growing number of Iranians have started investing in bitcoin and other digital assets, turning away from traditional markets such as forex, gold and stocks.
Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Cornell University professor of economics and former head of the IMF’s China division, Eswar Prasad, sees three major flaws in bitcoin.
Because of these flaws, the professor says that “bitcoin really has set off something of a search for a …