Iran Wants to Create a Muslim Crypto
Main page News, Iran, US, Cryptocurrency
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Dec. 20, 2019

Iran's president Hassan Rouhani has proposed creating a single cryptocurrency for Muslim countries so that they can fight the hegemony of the US dollar. According to Associated Press, the Iranian president said yesterday during a summit in Malaysia:

"The Muslim world should be designing measures to save themselves from the domination of the United States dollar and the American financial regime."

He said the sanctions imposed by the United States are "the main tools of domineering hegemony and bullying of other nations."

The US has been imposing economic, trade, scientific and military sanctions against Iran since 1979.

In an attempt to avoid this control, Rouhani has proposed the creation of a unified banking and financial system of Muslim countries as well as the development of a single cryptocurrency.

Malaysia's Prime Minister Mahathir Bin Mohamad has supported Rouhani's proposal, stating that "it seems that sometimes when we use the US dollar, there are sanctions that can slow down economic development. We can use our own currencies or have a common currency".

iHodl reported back in July Iran had recognized crypto mining as an independent industrial activity. Since then, the country's cryptocurrency miners must apply for a special license from Iran's Ministry of Industry, Development of the Subsoil and Trade.

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