on the crypto
La US sanctioning policy against Iran it is becoming more and more intense, consequently pushing Tehran to prepare its countermeasures. Over the past few hours, in fact, too LocalBitcoins, the famous peer-to-peer currency exchamge, has declared its practical impossibility to serve users living in the Middle Eastern country. A decision which, according to at least as revealed by a source, would have originated from the need for ensure compliance of the exchange with the rules in force in Finland, where its headquarters are located, but which many have linked to the desire not to enter the sights of the US government
LocalBitcoins is only the last link for now
LocalBitcoins is in practice only the last link in a chain which already included for example Coinbase (see the guide to Coinbase) to Binance, which preceded him in this regard and which is putting Iran in considerable difficulty. Already at the end of 2018, in fact, the Belgian interbank service provider Society for Worldwide Interbank Financial Telecommunication (SWIFT) had announced the decision to eliminate Iranian banks from its financial messaging system. A decision which in practice prevented the Asian country from carrying out banking services outside its own borders and which was considered by many analysts to be the drop capable of overflowing the vessel.
Iran in the footsteps of Venezuela
As already happened in the case of Venezuela, another country embargoed by the United States, the response of the local authorities was directed to the launch of its own virtual uniform, which is entrusted with the task of circumventing the sanctions, as far as possible.
It should also be stressed that this decision takes the form of a real change of course, considered as for a long time the Iranian government authorities have shown all their opposition to cryptocurrencies.
To take on the task of developing the project, on behalf of the Iranian bank Apex, was theInformatics Service Corporation (ISC), whose chief executive said that the Iranian central bank would issue the virtual currency, releasing it in its first phase to commercial banks with the obvious purpose of allowing them to use it as a payment instrument and for bank agreements. As in the case of Petro, however, analysts and experts believe that in reality it would not be a real virtual uniform, lacking some of the requirements that have always been indicated necessary to be able to actually be it, or the decentralization of the network and the profiles of anonymity aimed at guaranteeing user privacy.
The first step: Peyman
Meanwhile, however, the hypothesis of an Iranian cryptocurrency is increasingly concrete, also in light of the launch of Peyman, the virtual currency launched in January by Parsian Bank, Bank Pasargad, Bank Melli Iran and Bank Mellat in collaboration with Ghoghnoos Company. A move that came just a week after the publication of the digital asset guidelines that in the intentions of the Persian monetary authorities could be used in the country, not without some restrictions. Among them, it should be remembered, for example, that which will prevent the use of Bitcoin as a payment instrument, while among the restrictions it is necessary to underline the maximum value limit in cryptocurrency that can be held by each individual citizen. In addition, the initial offer of coins (ICO), the exchange of tokens, the mining and the holding of wallets, or the digital wallets delegated to contain the coins held, will be possible.
What will Trump's response be?
In light of what is happening, it remains now to understand the scope of the answer that Donald Trump will want to give Tehran's move. After deciding not to renew, on their expiry in early May, the exemptions for the import of Iranian oil which also concerned Italy, the President of the United States it cannot for now proceed to the outlawing of a cryptocurrency that does not exist, as happened instead in the case of Petro. According to experts, however, to witness such a move it will only be necessary to wait for the debut on the markets of Iran's digital currency.
