Iranian Central Bank Doesn’t Recognize Bitcoin as Official Currency

The Central Bank of Iran announced that it has never recognized Bitcoin as an official currency and conducts no transactions in it or other cryptocurrencies  
22 February 2018   1040

Last year, the Iranian government was interested in utilizing cryptocurrencies as a way of bypassing economic sanctions levied against the country. Today it completely changed its mind. The Central Bank of Iran announced that it will never recognize Crypto as official currency.

The bank informed citizens about risks of making investments because there is a chance to lose financial assets. Currently, the bank is cooperating with other institutions to develop mechanisms to control and prevent the use of cryptocurrencies in the country.

The wild fluctuations of the digital currencies along with competitive business activities underway via network marketing and pyramid scheme have made the market of these currencies highly unreliable and risky.

The Central Bank of Iran

However, there is some positive news. Today, Iran’s Information and Communications Technology (ICT) Minister Mohammad-Javad Azari Jahromi informed about the development of a local cryptocurrency by Post Bank. Unfortunately, the stage of research is not stated.

Mt. Gox CEO to be Found Guilty of Falsifying Docs

Mark Karpeles has a suspended term of four years ahead to prove his reliability and to avoid a real imprisonment
15 March 2019   120

The Tokyo District Court convicted the former CEO of the Mt.Gox bitcoin exchange, Mark Karpeles, of falsifying documents and sentenced him to two years and six months in prison. Nevertheless, Karpeles has a suspended term of four years ahead to prove his reliability and to avoid a real imprisonment. Reported by The Block.

Note that the prosecutor's office demanded 10 years in prison, however, on charges of embezzlement and violation of corporate law, Karpeles was found not guilty.

Karpeles and his lawyers intend to assess the situation and develop a strategy for action on the charges.

Earlier, the Illinois court rejected the petition of the lawyers of the former head of Mt.Gox to suspend the proceedings against him in the United States. So, American investors Gregory Green and Anthony Motto demand that Carpeles be personally responsible for the loss of their investments.

Once the largest Bitcoin exchange Mt. Gox crashed in early 2014. This happened after the information appeared about its alleged hacking and theft of 800,000 BTC ($ 480 million at that time). In December last year, Carpeles, during his closing speech at a Tokyo court, called himself innocent of the events that caused the millions of client losses and the company's collapse.