Iran Blocks 9200 Bank Accounts Over Suspicious Foreign Currency, Crypto Transactions – According to reports, Iran’s Ministry of Intelligence has blocked around 10,000 bank accounts due to questionable foreign money and cryptocurrency activities. The operation was carried out in cooperation with the central bank of the country.
According to local media, Iran’s Ministry of Intelligence announced on Saturday that it has blocked a number of bank accounts owing to suspicious foreign currency and cryptocurrency activities.
According to the ministry:
“545 people had their bank accounts blocked, totaling 9,219 accounts.”
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The entire transaction value blocked was over 60 trillion Iranian tomans, which is over $2 billion based on daily dollar exchange rate in the Iranian open market, according to the statement. Iran’s currency fell to a four-month low against the dollar lately.
The ministry, however, did not offer any information on the accounts as well as how much of the revenue was in digital currency. The move by the Ministry of Intelligence was taken out on a judge’s order and in coordination with the country’s central bank.
It was part of a recent initiative by the Iranian authorities to tackle unlawful and unlicensed foreign currency and cryptocurrency transactions. The ministry stated in December of last year that it had frozen the bank accounts of over 700 “illegal” foreign currency brokers in the country.
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Iran Blocks 9200 Bank Accounts Over Suspicious Foreign Currency, Crypto Transactions – Iran, however, is cracking down on illegal cryptocurrency mining. In the last two years, authorities have shut down over 7,000 illegal mining operations. In addition, the Iranian government has prepared new legislation that will enhance the consequences for illegal cryptocurrency mining, including increased fines and imprisonment.
