{"id":5268,"date":"2018-02-26T00:58:52","date_gmt":"2018-02-26T00:58:52","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=5268"},"modified":"2018-02-26T00:58:52","modified_gmt":"2018-02-26T00:58:52","slug":"iran-turkey-mulling-launch-of-state-backed-cryptocurrency","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/iran-turkey-mulling-launch-of-state-backed-cryptocurrency\/","title":{"rendered":"Iran &#038; Turkey Mulling Launch Of State-backed Cryptocurrency"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5269 alignleft\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/02\/iran-turkey.jpg\" alt=\"\" width=\"380\" height=\"250\" \/>Following Venezuelan President Nicolas Maduro jubilant claims of raising over $700 million through the <a href=\"https:\/\/www.legitgambling.com\/news\/countdown-venezuelas-crypto-currency-petro-begins\/\">launch of cryptocurrency Petro<\/a>, two more countries, Iran and Turkey, are <a href=\"https:\/\/www.cnbc.com\/2018\/02\/22\/iran-becomes-latest-rogue-state-to-develop-its-own-cryptocurrency.html\">seriously considering the launch<\/a> of their <a href=\"https:\/\/www.legitgambling.com\/cryptocurrency\">own cryptocurrency<\/a>.<\/p>\n<p>Notably, US regards both Iran and Venezuela as rogue countries and has imposed strict sanctions on them.<\/p>\n<p>Iran\u2019s decision to introduce a state-backed cryptocurrency was announced last week through a tweet by Mohammad-Javad Azari Jahromi, minister of information and communications technology (ICT). The minister announced that state-run Post Bank is working to launch a \u201ccloud-based\u201d cryptocurrency, subject to verification and acceptance by the ICT.<\/p>\n<p>Furthermore, Iran Front Page news site revealed that the Central Bank of Iran is cooperating with other government institutions to formulate a mechanism to control digital currencies in Iran.<\/p>\n<p><center><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"rtl\" lang=\"fa\">\u062f\u0631 \u062c\u0644\u0633\u0647\u0627\u06cc \u06a9\u0647 \u0628\u0627 \u0647\u06cc\u0626\u062a \u0645\u062f\u06cc\u0631\u0647 \u067e\u0633\u062a \u0628\u0627\u0646\u06a9 \u062f\u0631 \u062e\u0635\u0648\u0635 \u0627\u0631\u0632\u0647\u0627\u06cc \u062f\u06cc\u062c\u06cc\u062a\u0627\u0644 \u0645\u0628\u062a\u0646\u06cc \u0628\u0631 \u0632\u0646\u062c\u06cc\u0631\u0647 \u0628\u0644\u0648\u06a9\u06cc \u062f\u0627\u0634\u062a\u0645\u060c \u0645\u0642\u0631\u0631 \u0634\u062f \u0627\u06cc\u0646 \u0628\u0627\u0646\u06a9 \u0627\u0642\u062f\u0627\u0645\u0627\u062a \u0644\u0627\u0632\u0645 \u0628\u0631\u0627\u06cc \u067e\u06cc\u0627\u062f\u0647 \u0633\u0627\u0632\u06cc \u0622\u0632\u0645\u0627\u06cc\u0634\u06cc \u0627\u0648\u0644\u06cc\u0646 \u0627\u0631\u0632 \u062f\u06cc\u062c\u06cc\u062a\u0627\u0644\u06cc \u06a9\u0634\u0648\u0631 \u0631\u0627 \u0628\u0627 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0627\u0632 \u0638\u0631\u0641\u06cc\u062a \u0646\u062e\u0628\u06af\u0627\u0646 \u06a9\u0634\u0648\u0631 \u0628\u0647 \u0639\u0645\u0644 \u0622\u0648\u0631\u062f. \u0645\u062f\u0644 \u0622\u0632\u0645\u0627\u06cc\u0634\u06cc \u0628\u0631\u0627\u06cc \u0628\u0631\u0631\u0633\u06cc \u0648 \u062a\u0627\u06cc\u06cc\u062f \u0628\u0647 \u0646\u0638\u0627\u0645 \u0628\u0627\u0646\u06a9\u06cc \u06a9\u0634\u0648\u0631 \u0627\u0631\u0627\u0626\u0647 \u062e\u0648\u0627\u0647\u062f \u0634\u062f.<\/p>\n<p>\u2014 MJ Azari Jahromi (@azarijahromi) <a href=\"https:\/\/twitter.com\/azarijahromi\/status\/966237727627907073?ref_src=twsrc%5Etfw\">February 21, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<\/center><\/p>\n<p>The Central Bank of <a href=\"http:\/\/ifpnews.com\/exclusive\/bitcoin-cryptocurrencies-not-recognized-iran-central-bank\/\">Iran also cautioned the Iranian citizens<\/a> that they might incur a huge loss due to the volatile nature of cryptocurrencies.<\/p>\n<h2>Turkey&#8217;s Stance<\/h2>\n<p>Iran is not the only country in the middle-east to dream of making a fortune with its own cryptocurrency and circumvent the US sanctions. Turkey is drafting a bill to regulate and tax cryptocurrencies. The ministers belonging to the ruling Justice and Development Party (AKP) had earlier compared Bitcoin and other cryptocurrencies to pyramid schemes. As more and more countries understand the importance of the disruptive technology of blockchain, the ruling party\u2019s partner, Nationalist Movement Party (MHP), has suggested the idea of developing<br \/>\nTurkey\u2019s own cryptocurrency.<\/p>\n<p>In this regard, MHP deputy chair and former Industry Minister Ahmet Kenan Tanrikulu has presented a detailed report, proposing the state-controlled creation of a \u201cnational bitcoin\u201d called &#8220;Turkcoin.&#8221;<\/p>\n<p>Tanrikulu is of the opinion that it would be a serious mistake to miss out on disruptive technologies such as blockchain. <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2018\/02\/turkey-mulls-national-bitcoin.html\">Tanrikulu told Al-Monitor<\/a><\/p>\n<blockquote><p>\u201cThe world is advancing toward a new digital system. Turkey should create its own digital system and currency before it\u2019s too late.\u201d<\/p><\/blockquote>\n<p>Tanrikulu\u2019s report also recommends the creation of a state-controlled Bitcoin bourse. MHP\u2019s deputy chair stated<\/p>\n<blockquote><p>\u201cPreventing tax evasion, money laundering and swindling should be given priority in the work for new regulations. The introduction of encouraging regulations after assessing all kinds of risks would enable us to generate revenues from the cryptocurrency market, especially from bitcoin. In this context, the country needs a bitcoin bourse and legislation to regulate this realm.\u201d<\/p><\/blockquote>\n<p>Tanrikulu\u2019s report also suggests that the country\u2019s public assets such as Turkish Airlines, gas company Botas, Istanbul Stock Exchange, Ziraat Bank, Turk Telekom, and the National Lottery could serve as the <strong>\u201cinsurance policy\u201d<\/strong> for the national coin.<\/p>\n<p>Notably, the finance ministry and the Capital Markets Board are already working together to introduce cryptocurrency regulations. Earlier on February 7, the deputy prime minister Mehmet Simsek, who supervises the economy, told that the government would soon start working to launch a national cryptocurrency.<\/p>\n<p>The US (Treasury department) has warned its citizens that investing in these cryptocurrencies may be considered as violation of sanction laws.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following Venezuelan President Nicolas Maduro jubilant claims of raising over $700 million through the launch of cryptocurrency Petro, two more countries, Iran and Turkey, are seriously considering the launch of their own cryptocurrency. Notably, US regards both Iran and Venezuela as rogue countries and has imposed strict sanctions on them. Iran\u2019s decision to introduce a [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[],"class_list":["post-5268","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Iran &amp; Turkey Mulling Launch Of State-backed Cryptocurrency<\/title>\n<meta name=\"description\" content=\"While Iran\u2019s state-run Post Bank is working to launch a \u201ccloud-based\u201d cryptocurrency, its middle-east neighbor Turkey is drafting rules to regulate and tax cryptocurrencies. Turkey may also start working on launching its own cryptocurrency.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/iran-turkey-mulling-launch-of-state-backed-cryptocurrency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iran &amp; Turkey Mulling Launch Of State-backed Cryptocurrency\" \/>\n<meta property=\"og:description\" content=\"While Iran\u2019s state-run Post Bank is working to launch a \u201ccloud-based\u201d cryptocurrency, its middle-east neighbor Turkey is drafting rules to regulate and tax cryptocurrencies. Turkey may also start working on launching its own cryptocurrency.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/iran-turkey-mulling-launch-of-state-backed-cryptocurrency\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-26T00:58:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/02\/iran-turkey.jpg\" \/>\n<meta name=\"author\" content=\"Cameron Bishop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cameron Bishop\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/iran-turkey-mulling-launch-of-state-backed-cryptocurrency\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/iran-turkey-mulling-launch-of-state-backed-cryptocurrency\\\/\"},\"author\":{\"name\":\"Cameron Bishop\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"headline\":\"Iran &#038; Turkey Mulling Launch Of State-backed Cryptocurrency\",\"datePublished\":\"2018-02-26T00:58:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/iran-turkey-mulling-launch-of-state-backed-cryptocurrency\\\/\"},\"wordCount\":504,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/iran-turkey-mulling-launch-of-state-backed-cryptocurrency\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/02\\\/iran-turkey.jpg\",\"articleSection\":[\"Cryptocurrency\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/iran-turkey-mulling-launch-of-state-backed-cryptocurrency\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/iran-turkey-mulling-launch-of-state-backed-cryptocurrency\\\/\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/iran-turkey-mulling-launch-of-state-backed-cryptocurrency\\\/\",\"name\":\"Iran & Turkey Mulling Launch Of State-backed Cryptocurrency\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/iran-turkey-mulling-launch-of-state-backed-cryptocurrency\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/iran-turkey-mulling-launch-of-state-backed-cryptocurrency\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/02\\\/iran-turkey.jpg\",\"datePublished\":\"2018-02-26T00:58:52+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"description\":\"While Iran\u2019s state-run Post Bank is working to launch a \u201ccloud-based\u201d cryptocurrency, its middle-east neighbor Turkey is drafting rules to regulate and tax cryptocurrencies. 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