Fun

Iran Blocks 9,200 Bank Accounts Over Suspicious Foreign Currency, Crypto Transactions

News Feed - 2022-05-17 11:05:14

Iran Blocks 9,200 Bank Accounts Over Suspicious Foreign Currency, Crypto Transactions


Iran’s Ministry of Intelligence has reportedly blocked almost 10,000 bank accounts over suspicious foreign currency and cryptocurrency transactions. The action was carried out in collaboration with the country’s central bank. 9,219 Bank Accounts Blocked


Iran’s Ministry of Intelligence issued a statement Saturday stating that it has blocked a number of bank accounts due to suspicious foreign currency and cryptocurrency transactions, local media reported. The ministry detailed: A total of 9,219 bank accounts belonging to 545 individuals were blocked.


The statement adds that the total transaction value blocked was over 60 trillion Iranian tomans, which is approximately $2 billion based on the daily dollar exchange rate in the Iranian open market. Iran’s currency recently hit a four-month low against the U.S. dollar.


However, the ministry did not provide any details on the accounts or how much of the turnover was in digital currency.


The Ministry of Intelligence’s action was carried out by the order of a judge and in collaboration with the country’s central bank. It was part of the Iranian government’s recent plan to combat illegal and unauthorized foreign currency and cryptocurrency transactions. In December last year, the ministry announced that it froze bank accounts of more than 700 “illegal” foreign exchange traders in the country.


Meanwhile, Iran is also cracking down on unauthorized cryptocurrency mining. The authorities have shut down about 7,000 unauthorized mining facilities in the past two years. The Iranian government has also drafted new rules to increase penalties for illegal cryptocurrency mining, including additional fines and imprisonment. Tags in this story bank accounts, Bitcoin, Crypto, Cryptocurrency, Iran, iran blocks accounts


What do you think about Iran blocking bank accounts over suspicious crypto transactions? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Indian Regulator SEBI Proposes Banning Public Figures From Endorsing Crypto Products REGULATION | 4 hours ago UK Affirms Commitment to Regulate Stablecoins Following Terra Meltdown REGULATION | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleFormer Fed Chair Bernanke: Bitcoin Is Mainly Used in Underground Economy for Illicit Activities Next articleIndian Regulator SEBI Proposes Banning Public Figures From Endorsing Crypto Products Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"


The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament Today"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments

News Feed

Martin Young4 hours agoPoly Network urges users to withdraw after exploit affects 57 crypto assetsThe Poly Network has been exploited again, this time due to compromised private keys, according to blockchain security fir
Bitcoin risks ‘sharp weekend price swings’ as ETFs suck up liquidity
Jesse Coghlan3 hours agoBitcoin risks ‘sharp weekend price swings’ as ETFs suck up liquidityBitcoin trading volume and liquidity are concentrated on weekdays due in part to ETFs and could cause more wild price swings
Mining Hardware Thief Gets 3-Year Sentence in Russia
Mining Hardware Thief Gets 3-Year Sentence in Russia Russian authorities have investigated a number of cases involving the theft of crypto mining equipment in the past months. A re
XRP’s Time Is Now, Says Pundit—Don’t Snooze On The ‘Biggest Transfer Of Wealth’
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
PlaceWar Co-Founder Myrtle Anne Ramos Talks Gamified Internet Culture, Metaverse and Play-to-Earn
PlaceWar Co-Founder Myrtle Anne Ramos Talks Gamified Internet Culture, Metaverse and Play-to-Earn PlaceWar is a decentralized strategic play-to-earn game universe deployed on a mul
Marcel Pechman2 hours agoBitcoin price at risk? US Dollar Index confirms bullish ‘golden cross’Concerns over the U.S. dollar’s impact on Bitcoin may be overstated by investors, particularly in the longer term.1597
Over $500 Million Wiped Out From The Market As Bitcoin Price Fluctuates Heavily
Este artículo también está disponible en español. Traders have had a torrid start to the week, as over $500 million has been liquidated from the crypto market in the las
Millionaires FOMO: 73% Will Own Bitcoin by 2022, Survey
Millionaires FOMO: 73% Will Own Bitcoin by 2022, Survey Hundreds of millionaires have revealed in a new survey that they have either already invested in bitcoin
Kevin O’Leary Shares Crypto Investing Strategy — 20% of His Portfolio Now in Crypto and Blockchain
Kevin O"Leary Shares Crypto Investing Strategy — 20% of His Portfolio Now in Crypto and Blockchain Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has shared his cryptoc
Bitcoin ‘Probably’ Hit Its Bottom At $77,000, Arthur Hayes Says
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Abkhazia Shuts Down 2 Crypto Farms, Seizes Mining Hardware
Abkhazia Shuts Down 2 Crypto Farms, Seizes Mining Hardware Authorities in Abkhazia have closed down two crypto mining farms that have been illegally connected to
Ethereum price to $10K is the most ‘asymmetric bet’ in crypto — Analyst
Zoltan Vardai7 hours agoEthereum price to $10K is the most ‘asymmetric bet’ in crypto — AnalystEther’s potential move to $10,000 would result in a 194% price increase from the current levels, but ETH continues st