TIL US and the EU cut Iran off from the payments system.SWIFT, the electronic payments system headquartered in Brussels refused to cooperate, saying that it should not be used as a tool of politics. But the EU threatened the board and senior SWIFT executives with criminal charges, and SWIFT folded.

TIL US and the EU cut Iran off from the payments system.SWIFT, the electronic payments system headquartered in Brussels refused to cooperate, saying that it should not be used as a tool of politics. But the EU threatened the board and senior SWIFT executives with criminal charges, and SWIFT folded. submitted by /u/MakeTotalDestr0i
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Bitcoin – The Currency of the Internet

Central Bank of Iran Bans Banks from Crypto (news.bitcoin.com)

Iran’s central bank has issued a statement banning the country’s banks and financial institutions from dealing with cryptocurrencies such as bitcoin, citing money laundering and terrorism financing risks. However, the local crypto community in Iran believes that the ban will not affect them and some exchanges continue to operate normally.
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Government of Iran Bans Foreign Fiat Currency Exchanges (news.bitcoin.com)

It appears that the Iranian people are losing trust in the rial as it continues to depreciate in value. In response, the government of Iran is trying to prevent them from getting their hands on foreign currency, providing another example of the need for bitcoin. We should expect to see a growth in local bitcoin use as this situation develops, just as has happened in Venezuela and elsewhere.
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From JP Morgan and DBS to Iran and Portugal, Bankers Continue to Sound the Bitcoin Alarm

Of late, bankers public and private have increased their criticisms of bitcoin and cryptocurrencies, especially as valuation all time highs appear to have no quick end in sight. From destabilization to fraud and money laundering, legacy banking is doing everything in its rhetorical power to sway opinion.
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