Bitcoin
Out of context: Reply #2104
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- grafician0
"How Iran Uses Bitcoin Mining to Evade Sanctions and “Export” Millions of Barrels of Oil"
"Many of those making the Bitcoin transactions and paying the fees to Iran-based miners will be located in the United States - the very country spearheading the sanctions. As the US government considers whether to lift some sanctions on Iran in exchange for a return to a nuclear deal, it will need to consider the role that Bitcoin mining plays in enabling Iran to monetise its natural resources and access financial services such as payments.
In the meantime, financial institutions should consider the sanctions risk they are exposed to due to Iranian Bitcoin mining - particularly those that are beginning to offer cryptoasset services. If 4.5% of Bitcoin mining is based in Iran, then there is a 4.5% chance that any Bitcoin transaction will involve the sender paying a transaction fee to a Bitcoin miner in Iran. Financial institutions should also be on the lookout for crypto deposits originating from Iranian miners that are seeking to cash-out their earnings."
- Funny that Iran supports mining but banned bitcoin internally to not tank it's currencygrafician
- Oh wait, forgot the source: https://www.elliptic…grafician