Question: The Central Bank of which of the following countries recently banned the use of cryptocurrency, including Bitcoin by country’s banks?
(a) United Arab Emirates
(b) Kuwait
(c) Iran
(d) Iraq
Answer: (c)
Related Facts:
- On April 23rd, 2018, Central Bank of Iran banned the use of cryptocurrencies, including Bitcoin by country’s banks.
- This restriction has been imposed by the central bank, citing the reasons that the use of cryptocurrency money legalize black money and utilize it for terrorism financing.
- According to the central bank of Iran, this decision was taken by the Government Money Laundering Committee in December 2017, but it is now being implemented.
Reference:
https://www.coinspeaker.com/2018/04/23/iran-central-bank-bans-domestic-banks-using-cryptocurrencies/
http://bitcoinist.com/irans-state-backed-cryptocurrency-project-moving-forward-despite-recent-ban/
https://www.nytimes.com/reuters/2018/04/28/business/28reuters-crypto-currency-iran.html