cryptocurrency

  • Bitcoin dropped 9.28% to $36,955.03 on Friday, while Ether dropped 12.27%.

  • The Central Bank of Iran (CBI) plans to launch the national cryptocurrency in a pilot phase in the near future, an official with the bank announced without providing further details.

  • The Central Bank of Iran and the Ministry of Industries, Mining and Trade have reached agreement to link the CBI crypto platform to the Comprehensive Trade System, which allows businesses make use of cryptocurrency to settle payments to foreign partners, the head of the Trade Promotion Organization of Iran said.

  • Bitcoin hit a six-month high today, approaching the record hit in April, as traders became increasingly confident that US regulators would approve the launch of an exchange-traded fund based on its futures contracts.

  • Bitcoin hit a market capitalization of $1 trillion as it rose to yet another record high on Friday, countering analyst warnings that it is an “economic side show” and a poor hedge against a fall in stock prices.

  • Cryptocurrency is a kind of digital currency in which cash production and verifying the authenticity of its financial transactions are controlled by a series of encoded algorithms. Usually they work based on decentralized networks (without dependence on a central authority).

  • Iran’s Minister of Information and Communications Technology Mohammad Javad Azari Jahromi has urged the regularization of bitcoin mining business in Iran, given the recent reports of bitcoin miners’ use of Iran’s cheap power.

  • Iranian authorities, in cooperation with four local banks, have launched the PayMon cryptocurrency, secured by gold reserves, to bypass international sanctions. At first, 1 billion PayMon tokens will be released, Trend reports referring to the banki.ru website.