Cryptocurrency

Iran cryptocurrency news: Iran conducts first import deal using cryptocurrencies — media

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Important Iran cryptocurrency news: Iranian authorities have conducted the first import deal of $10 million using cryptocurrencies, media found out

Iranian authorities have conducted the first official import deal using cryptocurrency. This was reported by Reuters citing local news agency Tasnim.

The transaction amounted to $10 million. However, it is not clear what cryptocurrency was used for the operation. Iran and cryptocurrency have previously appeared in the news several times. Who exactly was the counterparty and what exactly the goods were purchased with the help of cryptocurrencies is also not disclosed.

A representative of Iran’s Ministry of Industry and Trade said that by the end of September, the authorities intend to expand using smart contracts and cryptocurrencies in foreign trade with “target countries. It is not clear which countries exactly we are talking about.

Recall that Iran is under full-scale sanctions from the U.S.. The ban on any imports concerns not only the banking sector, but also the oil and shipping sectors of the country.

Meanwhile, the European Union (EU) has finalized a document for the renewal of the 2015 nuclear deal with Iran. Under the 2015 agreement, Iran curtailed its nuclear program in exchange for exemptions from U.S., EU, and UN sanctions. However, former U.S. President Donald Trump reimposed tougher sanctions against Iran in 2018, which, according to Reuters, prompted Tehran to break the deal.

Earlier, we reported that China blocked 13,000 social media accounts because of cryptocurrency ads.

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