Situation of crypto currency in Iraq does a classic topsy turvy

crypto currency in Iraq

4rth July-According to recent sources, a lot of changes can be seen in the way crypto currency and its various associations are treated in the markets of Iran. Certain restrictions are being put on the consumers and potential consumers by the government and this has come as a major surprise for the numerous users who believed that there might soon be a renewal of activities. However, because of several economic reasons, the activities in the crypto currency market are placed under the lense of suspicion. Here is looking at how are these changes affecting the people and the factors which have stimulated these changes.

It is important to note that no statement has been made to state whether digital currency activities are under scrutiny and if they are, than for how long. However, restrictions have been observed in the series of changes which were absent previously. It is suspected that network traffic is being observed on the day to day basis by the government officials. This can be predicted because this technique was employed by the government of Iraq in the past as well. This is a tried and tested method of public surveillance and therefore, there can be a relative ease in recognizing these patterns employed for public surveillance.

According to whatever information available, it has been learnt that because of the inflation Iran is facing, the government of Iran wants to keep the currency of Iran within its boundaries, moreover, dealing with crypto currency is not an unethical undertaking under the legislation of Iran, provided that such activities are conducted while maintaining the respect for the laws that are mandatory in the Iranian nation. These restrictions are a sign that the attempts are being made by the government to bring the inflation under its control and are thus affecting the field of crypto currency as well.

The signs of the censorship were noticed in last month of 2017 itself, when an organization that deals with handling of money laundering in the Iranian government had forbidden the various economic enterprises to indulge in digital currencies. There were also several warnings from other influential organizations of Iran against the excessive use of crypto currency and how it would adversely affect the situation of the country in terms of the status of the currency due to the inflation which had gripped the nation in the current times.

This has come as a major disappointment for the well wishers of the crypto currency in the market because several users believed that 2018 would be the year that crypto currency would gain a place in the legal framework of the country. However, seems like the tables have turned for the fate of crypto currency in this part of the world.

Even though dealing in “Rial”, the currency of Iran is forbidden, not everyone holds the conviction that everything is bleak for the platforms and users of virtual trading. It can be believed that things might improve in a certain period of time.

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