Iran’s government reportedly banned a local blockchain association and a crypto warning list was the main cause of the ban as per the head of the Blockchain Community of Iran so let’s read more in our latest cryptocurrency news today.

The Ministry of Interior of the Islamic Republic of Iran blocked multiple activities of the Iran blockchain community but the association claimed that they haven’t received a direct notice. The Social Affairs Organization of the Ministry required the reports on IBC’s financial performance and dealings with crypto exchanges via a notice posted in the local newspaper Hamshahri Online a week ago as per local sources.

Over the weekend, the ministry blocked the activities of the association but the IBC spokesperson Sepher Mohammadi who is also the CEO of the two exchanges that were listed as sponsors of the associations’ website but there was no verbal or written warning was given to the board members. In the letter to the Social Affairs Organization, the IBC chairman noted that monitoring the performance of the blockchain ecosystem participants with the right of the association. He added that issuing and publishing warning lists for all new users to avoid traps is a mission for the IBC.

The High-risk Iranian companies that were involved in crypto were on the IBC warning list so Mohammadi thinks that this is the leading cause of the ban as he added:

“Vested interests will do anything to stop IBC’s efforts. They managed to publicize the notice before IBA was informed.”

Iran’s government reportedly banned the Blockchain association and as per the local media, one member of the parliament accused all crypto-related domestic NGOs of transferring foreign currency overseas. As one of the NGOs in the blockchain space, IBC denied all claims and said that the association is focused on promoting a blockchain technology future in the country.

After a summer ban for mining, Iran is seeking improved regulation for crypto as Iranian President Hassan Rouhani said that the country needs to legalize all crypto-related activities to preserve and protect national interests. He called for a joint study between different parties for establishing a legal framework for crypto.

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Source: https://www.dcforecasts.com/regulation/irans-government-reportedly-banned-local-blockchain-association/