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Irani Central Bank thinks Bitcoin is too risky

13 November 2017 21:00, UTC

The Central Bank of Iran, quite unsurprisingly, says that cryptocurrencies pose speculation risks. This position is not uncommon among central banks of the world and could have easily been predicted, as the government of Iran is very conservative. While saying lately that it would be interesting and beneficial to broaden financial technologies, the representative of this bank is quoted as stating:

“Given that Bitcoin and other currencies have not been introduced by the central bank as the official currency, as well as the risk of buying it and the activity of traders in this field, more precautions are coming into the market because of the possibility of malice.”

Before this statement, there were reports that this country, being in as bad economic situation as it is, might consider issuing its own national cryptocurrency to increase competitiveness. Previously, similar fintech proposals have reportedly been voiced by the state authorities in China, Kazakhstan, and Russia. The economic observers in the latter country noted that the state does not currently possess adequate technologies to do so, and there is no reason to believe Iran is different in this regard.