Iranian Authorities to Ban Crypto Exchanges

New wave of government censorship spread on the cryptocurrency in the country
04 July 2018   922

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.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   122

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.