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Iranians buy over $2.5B in cryptocurrencies

Business Materials 5 May 2018 16:31 (UTC +04:00)

Tehran, Iran, May 5

By Kamyar Eghbalnejad - Trend:

Iranians have so far bought over $2.5 billion in digital currencies, said Mohammad Reza Pour Ebrahimi, head of Iranian Parliament’s Economic Affairs Committee, Tasnim news agency reported.

Withdrawing this huge sum of money overseas is due to the fact that the country still has no specific plan to create a national digital currency, he added.

The Iranian lawmaker further urged the Central Bank of Iran to issue the necessary licenses and pave the way for trading in cryptocurrencies across the country.

Bitcoin is gaining more credibility, as the Chicago Mercantile Exchange has started offering its futures and allowing investors to wager whether they think it will rise or fall in value in the months ahead after seeing it surge around 2,000 percent this year.

After the launch at the exchange, Bitcoin initially rose to yet another record of close to $20,000 before slightly regressing toward $18,800, with the coming months promising to prove just as exciting for the cryptocurrency that is increasingly becoming a household name.

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