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Iran Could Announce a State Cryptocurrency to Evade US Sanctions Today

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As U.S-imposed sanctions continue to cripple Iran economically, the Islamic state is reportedly on the verge of announcing its state-backed cryptocurrency. The ability of Iranian financial institutions to conduct transactions and relate with the rest of the world has been shackled since the sanctions were enforced and many believe the Iranian cryptocurrency will help abate some of the effects of the sanctions. To further stoke the rumor fires, it has been reported that the Iranian government expects to make an announcement concerning the digital asset at the annual Electronic Banking and Payment Systems Conference, which kicks off in Tehran on January

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* First published on ccn.com

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