How Iran uses cryptocurrency to bypass sanctions and boost revenue

Iran has embraced cryptocurrency as a means to avoid international sanctions and make more money. Eric Lob, a non-resident scholar with the Middle East Institute's Iran program and an associate professor at Florida International University, joins CBS News to discusses his research.
#news #iran #crypto
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I wonder if that FTX guy got the money from Iran lol

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He lost it on hedge fund investment ????

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Iran has it's own crypto exchanges, it didn't need FTX

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Crypto is used by the underground world to exchange money for goods and services. Not just Iran, Russia, North Korea, drug cartels, terrorist funding, arm dealers, human traffickers, tax evasion etc etc. The issue is why doesn’t the US and EU etc ban crypto within it borders like how the US bans online Caribbean gambling sites and other currencies from being used in their borders considering the crypto market is used by the underground community. Maybe perhaps because the politicians are being paid to look the other way?

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It's used everywhere, not really the "underground".

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How would they be aware of any crypto transactions as there crypto.?

[@MrMalmir]

What's "Iranian regime"?? US regime paid media have their own vocabulary.

[@Benzijune]

Too bad the suffering people of Iran are not benefiting from it 😢

[@sagesufferswell]

They are fighting so hard to have a successful revolution and ousting this regime.

[@alinaqirizvi1441]

What? These are Iranian companies we're talking about not the Iranian government. They are importing stuff like electronics and other stuff Iran hasn't learned to manufacture domestically to sell to ordinary Iranians.

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The Bitcoin image is photoshopped to read “PEE TO PEER”. Hats off to the cheeky person in the graphics department.

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Pretty smart,,, 👏👏

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[@lisavanoni6552]

Yep this is overall purpose intended for all of us globally

[@pattilab9584]

A better question is are these sanctions even legal in the first place?

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Exactly!!!

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A unique method to bypass OFAC.

[@FrankensteinintoFranken-FINE.]

In the crypto market we call this news article BS.

[@paspa]

I mean, shouldn’t we have stopped the conflict, back in 2014, instead of ignoring it?

[@Herodotus__]

Sanctions do chit! Only hurt the civilians with the hope they will retaliate! That's the only reason.

[@truhawaii5957]

Propaganda 😂

[@AleksGurakuqi-vn9ck]

I think you are right, but after the collapse of the market, it will be more reliable to earn on the Crypton cryptocurrency.

[@k.k356]

This is what every sanctioned country does by this point. Russia is not without a doubt boarding this train too, if they already were not on it already. I dont understand whats so difficult about shutting down the cryptocurrency business overall, it would bring the autocratic nations down really quickly.

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Those nations were doing just fine before crypto and will be after.

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Tough times make strong men Kudos to Iran for ingenuity No more western bullying

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Are they buying NFTs?

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Bitcoin! Not crypto!

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Would you say that by feeding weapons to Ukraine, we are in fact making these shady regimes to grow together and creating a big risk for our countries?

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we just want better latency in warzone 2 .

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Another reason cryptocurrencies should be banned

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Yeah i haven't seen anything good come from it. Just look at all the scammers and bots this video triggered.

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And how Biden lets them. Can't forget THAT part.

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