Binance will stop operating in Iran

The company, along with Bittrex, will stop working in the nation due to the sanctions imposed by the United States

After Iran was removed from the list of countries eligible to trade with cryptocurrencies, several exchanges began to impose restrictions on the citizens of that country.

This was reported by the president of the Blockchain Community of Iran, Sepehr Mohammadi, who added that at the moment there have been no blockades against digital assets of the Iranians.

Everything indicates that from now on the nation won’t be allowed to make any exchange of cryptocurrencies outside its borders, something that limits trade to only the domestic market where bitcoin is sold at a much higher price compared to its real value.

Mohammadi explained that Binance and Bittrex are among the most prominent that have imposed restrictions with Iran regarding the provision of their services.

On November 5th, the government of Donald Trump imposed new economic sanctions on the Islamic country, which implies restrictions on the sale of oil, the main source of income for the country, and block other industries such as the aeronautics, automotive and the financial system.

K. Tovar

Source: Coincrispy

Receive this and all our information directly on your cell phone through our channel on Telegram:

Comments are closed.