US Government Seizes 500+ BTC from Iranians – Bitcoints

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Published on July 22nd, 2018 | by bitcoin

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US Government Seizes 500+ BTC from Iranians

Finance

According to the head of Iran’s Blockchain Association, over 500 BTC belonging to Iranians were confiscated by the U.S. government last year, and the number is still rising.
He explains that Iranians are unable to take action through proper channels from within their country due to Iran’s legal status of cryptocurrency.
He admitted that the exact number of confiscated BTC “is not clear, but it is expected to be over 500 bitcoins, worth approximately 25 billion tomans ($5.77 million)” at the time, the publication quoted him.
Recently, news.Bitcoin.com reported that the government of Iran is considering using cryptocurrencies to evade long-held U.S. economic sanctions.
In April, the Central Bank of Iran (CBI) banned banks and financial institutions in the country from dealing with cryptocurrencies.

Source: News.bitcoin.com

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