Iran soon ready to launch its national cryptocurrency to bypass US sanctions
Iran, which is suffering from US financial sanctions, is developing its plan to set up a national cryptocurrency to circumvent these sanctions.
The Financial Tribune, an Iranian daily, says that all the preparations for launching the virtual currency had been made. President Hassan Rouhani has even given the order to proceed with its launch.
Iran would, therefore, be at the forefront of regulating and regulating cryptocurrencies on its soil. The deputy director of Iran’s Supreme Council for Cyberspace told IBENA, a second Iranian daily, that “clearer regulations on cryptocurrency are coming soon. According to the daily, the Iranian central bank is even ready to make public in September 2018 its final legislation on cryptocurrencies.
This state-backed cryptocurrency would, therefore, have the advantage of evading the SWIFT networks and therefore the economic sanctions pronounced by the United States. In contrast to crypto-currencies that want to be decentralized financial instruments, this Iranian digital currency will be totally centralized: it will not be based on complex mathematical calculations like Bitcoin but only on the decisions of the Central Bank of Iran. The latter will, therefore, have full control and may decide to issue digital assets as it sees fit.
In addition, this cryptocurrency will not be shabby and transactions will not be public. These will only be accessible from a private blockchain – obviously controlled by Iranian power.
It remains to be seen if the process has a chance to work. And with the example of Venezuela and Petro, nothing is less certain.
Launched in 2018, this national cryptocurrency supposed to replace the Bolivar whose value has collapsed, is now considered by several experts as a scam to hide the economic crisis of the country.
In addition, several ICO evaluation sites have provided advice in this regard.
Crypto Millionaire Matthew Mellon Dies Leaving More than $500 Million Lost
This heir to one of America’s great banking fortunes, and a former chair of the New York Republican Party’s finance committee has struggled with drug addiction. So when he began dabbling heavily in cryptocurrencies years ago, his friends and family tried to dissuade him, figuring it was another erratic obsession. And, indeed, he abandoned some early investments and sold his Bitcoin a few years ago.
But then Mellon got turned on to XRP, spending some $2 million to acquire coins, which he liked because it’s one of the few cryptocurrencies that are working within the banking system.
“Crypto is scary and dark. It’s anti-America,” says Mellon, 54. “I am pro-America, pro-business and pro-bank. That’s why I went with Ripple.”
Mellon’s XRP is worth around $1 billion. Recently divorced, he parties in a posh Los Angeles house he rents for $150,000 month.
“It’s $1 billion virtually for free. I actually have earned it because I was the only person who was willing to raise his hand,” says Mellon. “My family thought I was insane when I knew it was a home run.”
Yahoo Finance Integrates Bitcoin, Ethereum and Litecoin Trading
Yahoo Finance has integrated trading with Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) on its platform. While statistics are available on the platform for other digital currencies like Bitcoin Cash (BCH), Ethereum Classic (ETC) or EOS, they currently do not have buy and sell options.
The development has led some in the crypto community to say that it is an important step forward for crypto adoption. Crypto enthusiast and founder of Morgan Creek Digital, Anthony Pompliano tweeted:
You can now buy Bitcoin, Ethereum, and Litecoin on Yahoo Finance.
In March, the Japanese arm of internet giant Yahoo said it will open a cryptocurrency exchange “in April 2019 or later.”
Yahoo Japan was going to buy 40 percent of BitARG Exchange Tokyo in April, and immediately dispatch executives to lay the foundations for the exchange to launch a year later.
Rimini Football Club bought with cryptocurrencies
Rimini Football Club enters the history of Italian football.
As Sky Sport reports, 25% of the shares owned by the club, which plays in Serie C, is about to be sold to Heritage Sports Holdings, a company from the United Arab Emirates that deals with investments in the world of sport.
For the first time in Italy, the payment will be done with a cryptocurrency thanks to the Quantocoin partnership.
The confirmation came directly from the President of Rimini, Giorgio Grassi, who during a press conference stated:
“Negotiations with this group have been going on for a couple of months […]. Heritage Sports Holdings with its partner Quantocoin will try to bring to the team and to the city new ideas and synergies from the sporting, brand image and technological point of views. Heritage Sports Holdings’ participation is innovative in view of its crypto payment system (QTCt) and the use of blockchain technology, for which Heritage Sports Holdings is already at the forefront in other countries. […] This acquisition will enter the history of football, bringing a very important resonance to the city of Rimini. In recent weeks Heritage Sports Holdings has shown great interest in the Rimini brand and in our innovative approach to football. The new members appreciated the transparency of Rimini F.C. (the same transparency that we are currently practicing by telling you about these developments), its economic sustainability, its territoriality, its commitment to the world of solidarity and also the critical mass that our world expresses with all its affiliated companies”.
Heritage Sports Holdings also owns Gibraltar United, a football club known to be one of the first to pay part of the wages to its players in cryptocurrency.
In Italy, however, it already owns Mantova.