Iran to Launch State-Backed Cryptocurrency to Counter SWIFT and US Regulations

Iran’s plans of launching its own state-backed cryptos have been in the pipeline ever since the US sanctions were looming over its head. US has already warned Iran over its trials of state-backed crypto and has affirmatively said that crypto-rial would receive likewise sanctions from the US. Even if crypto-rial face US sanctions, what the Iranian government needs to do is, make the technology strong enough to be supported at the local level, where it can be used as a daily mode of payment by the citizens.

Source: www.btcwires.com