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Al Jazeera
Al Jazeera
Business
Maziar Motamedi

Iran’s government hits out at crypto again as currency freefalls

More Iranians are dealing in cryptocurrencies, and authorities are trying to exert more control. Illustration taken November 3, 2022 [Dado Ruvic/Reuters]

Tehran, Iran – Iranian authorities have again been cracking down on cryptocurrencies and online exchanges as the value of the national currency plummets in an economy in turmoil.

Last month, the Central Bank of Iran (CBI) suddenly stopped rial payments in all cryptocurrency exchanges, leaving more than 10 million crypto users unable to spend rials on Bitcoin and other global online currencies.

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