Iranian Authorities to Ban Crypto Exchanges

New wave of government censorship spread on the cryptocurrency in the country
04 July 2018   332

Presumably, since May of this year, Iranian users are experiencing problems with access to crypto exchanges and other exchange platforms, Coindesk reports.

In particular, there are difficulties with access to Binance, Blockchain and LocalBitcoins, even when using VPN and other methods.

One of the Iranian enthusiasts, on condition of anonymity, told that it was all about new sanctions that would be imposed on the country in August and November.

Many people are using it [bitcoin] as a hedge instrument because buying BTC is easier than going into the black market to buy yourself US dollars.
 

Iranian Crypto Enthusiast

Another factor that spurred the Iranians' interest in crypto-currencies - annual inflation of rial reached 127 percent.

Most experts agree that the economic situation forces the Iranian authorities to restrictions on crypto-currencies. So, in April, as part of the anti-money laundering program in Iran, financial institutions were prohibited from working with cryptocurrencies. In May, the head of the economic committee under the Iranian government, Mohammed Reza Purbrahimi, warned the currency traders about the harm to the country's economy if they continue to spend billions of dollars on international sites.

Now, without warning, official Tehran has started a policy of restricting access. Anonymous sources also report that the government is inspecting user traffic with the help of tools for deep packet analysis. Thus, it plans to block access to exchanges even with the help of VPN.

Another source says the ban on the purchase and sale of cryptocurrency for rials, although people continue to do it in face-to-face meetings. When he was asked to describe the mood among the enthusiasts of cryptocurrency in Iran, he replied in one word: "Uncertainty."

All these events mark a sharp turn for the country that was on the verge of a cryptocurrency boom (in 2017 CoinDesk published a report according to which the Iranians believed in support of the crypto currency by the government). Moreover, just as in February of this year, blockchain startups worked actively with Iranian regulators to legalize cryptocurrency in the country.

Zb.com to Open Office at Malta

Country made another step froward to leadership in blockchain industry
16 August 2018   94

Fifth in terms of the daily trading volumee exchange ZB.com announced plans to open a representative office in Malta. This is reported by CCN.

Secretary of the Malta Parliament for Digital Innovation and Finance Silvio Schembri said that the opening of ZB.com will be another step in the country's leadership in the blockchain industry.

At first, the Maltese branch of ZB.com will offer customers only cryptocurrency exchange, and subsequently also plans to add support for the currency. ZB.com will be the third exchange in Malta, following the offices of Binance and Bitbay, which offers the exchange of digital currencies for fiat money.

Malta is perhaps the world’s most progressive and forward-thinking nation in DLT, crypto and fintech, and we are very excited to be part of the Blockchain Island. We are confident we will be able to announce our live operations soon.
 

Jimmy Zhao

Co-founder, ZB.com

Zhao said that he was invited to Malta by his business partners and met with government officials to discuss the possibility of opening a representative office.

According to CoinMarketCap, the volume of deals on ZB.com for the last 24 hours was areoud $ 267M. The most popular trading pairs on the platform are BTC / USDT, Dash / USDT, Qtum / USDT and ETH / USDT.