Iran Central Bank has banned all other banks in the country from trading cryptocurrencies. Issuing a note in this regards, the Iran Central Bank commented that the decision was an extension of anti – laundering agency’s ban. The decision is expected to bring the Iranian Rial – which has plummeted, on the wake of the uncertainty over the US – back to stable nature. Since the presence of cryptocurrencies, such as Bitcoin have all made their presence felt strongly in the country, the new set of reform, is expected to strengthen the country’s official currency.
Earlier, a number of countries, including China and India issued a similar ban on cryptocurrencies. Extremely volatile in nature, Bitcoin, in the last day surged past the $9,000 mark.