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Iran Looking to Replace Dollar With Dinar in $10 Billion Trade With Iraq
10.7.2023
Iran’s government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail the dominance of the U.S. dollar. The annual turnover between the two neighboring nations exceeds $10 billion with millions of pilgrims and health tourists crossing the border each year....
Iran and Russia Talk Crypto Cooperation, Unveil Tool Streamlining Trade in National Currencies
12.6.2023
Experts and business representatives from Iran and Russia have discussed the potential uses of cryptocurrencies and blockchain. The two countries are also collaborating on implementing new financial instruments facilitating bilateral trade in their national fiats. Financial Expo Brings Together...
Russian Finance Minister Talks Dollar Attack on Russia, Importance of Developing Alternatives for Settlements
7.6.2023
Russian Finance Minister Anton Siluanov has given his opinion on the perceived attack the Russian economy has been receiving from the U.S. dollar, and how the country has moved to keep trade going. Siluanov also remarked on the importance of developing settlements in national currencies. Russian...
Russia and Iran Phasing Out US Dollar in Bilateral Trade Settlements
19.5.2023
The governments of Russia and Iran are starting to phase out the usage of the U.S. dollar to conduct bilateral trade settlements. Russian Deputy Prime Minister Alexander Novak stated that 80% of Russia-Iran trade transactions are settled using national currencies and that they are considering also...
Iran’s Crypto Rial Project Enters Trial Phase
10.3.2023
The pre-trial stage of the project to introduce a digital Iranian rial has been completed successfully, the country’s central bank announced. The authorities in Tehran plan to expand the use of the state-backed currency and integrate it into Iran’s payment system. Iranian Government Prepares...
More Than 65% of Oman’s Crypto Holders Are College Graduates — Study
13.1.2023
Approximately 65,000 of Oman’s residents are holders of crypto and a majority of these are either high school or college graduates, a new study by Souq Analyst has found. According to the study’s findings, an overwhelming majority (90%) of Oman’s crypto holders are aged between...
Iran set to freeze bank accounts of women who refuse to wear a hijab
7.12.2022
Iran’s plan to freeze bank accounts reinforces the need for decentralized currencies to exist in tandem with cash and CBDCs
Iran Begins Central Bank Digital Currency ‘Crypto Rial’ Pilot Today
23.9.2022
The Central Bank of Iran (CBI) has reportedly begun a pilot for its central bank digital currency (CBDC), also known as “crypto rial.” Iran’s chamber of commerce explained that the “crypto rial has been designed in a way that is easy to track, and even if the data on...
Crypto Trading, Investing Illegal in Iran, Central Bank Governor Reiterates
14.8.2022
It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic....
Iran Aims to Roll Out Pilot Version of Crypto Rial Within 2 Months
26.6.2022
The government in Tehran is taking steps in preparation of the launch of Iran’s new digital currency, referred to as the crypto rial. The monetary authority of the Islamic Republic hopes to initiate the pilot phase of the project within the next two months. Crypto Rial to Be Different From...
Iran Will Not Allow Crypto Payments, Prepares to Pilot Digital Rial
12.4.2022
Iran will not recognize cryptocurrencies as a means of payment, a high-ranking government official has indicated. His statement came as the Central Bank of Iran announced rules for the issuance of digital coins in the country. These are meant, however, for its own “crypto rial,”...
Iran to Pilot ‘National Cryptocurrency,’ Amend Central Bank Law
19.10.2021
The central bank of Iran is gearing up to begin the pilot phase of its digital currency project in the near future, its new head announced to representatives of local media. The monetary authority is also preparing to move forward with a plan to reform the legislation that governs its...
Iran to Cut 4 Zeros From Its Currency Amid Chronic Inflation and US Sanctions
7.5.2020
Iranian lawmakers have reportedly approved a plan to slash four zeros from the national currency, the rial, which has been falling sharply in value amid chronic inflation and the U.S. sanctions. The official currency will also be replaced. Economists are skeptical about how the changes will affect...
How Governments Steal Your Money and Conceal It Through Inflation
5.8.2019
Dozens of countries all over the world have used the same trick called redenomination to hide how they have stolen their own citizens’ money through inflation or hyperinflation. The next nation to try this economic sleight of hand is the government of the Islamic Republic of Iran. Also Read:...