Home Cryptocurrency The United States Wants to Block Iran’s Use of Cryptocurrency

The United States Wants to Block Iran’s Use of Cryptocurrency


The United States has placed major economic sanctions on Iran. This is the result of Iran having secret nuclear weapons tests, among other things. Needless to say, the Iranian government is not very happy about this at all. It would appear that they are looking for some ways to get around the various sanctions that the United States has imposed. Cryptocurrency was originally a great way for criminals to finance their activities because it is impossible to trace. Although cryptocurrencies like Bitcoin have become much more popular in recent years, they are still used by criminals to launder money and pay for illegal items without being caught.

Governments have also gotten in on the act. Countries like Iran have seen the many advantages of using cryptocurrencies to circumvent sanctions that have been put into place to punish them for bad behavior or for breaking agreements they had previously made. The United States realizes that Iran will do anything to get around their sanctions. Cryptocurrency is the perfect tool to accomplish this goal. Therefore, the United States is taking steps to prevent Iran from having any way to access cryptocurrency. They also want to stop Iran’s ability to mine Bitcoin. It remains to be seen how effective the United States will be. Iran has employed a very skilled group of hackers to perform various cyber activities over the years. There is no doubt those people will be employed by Iran to help them with this latest problem.

The Congress of the United States has been monitoring the financial activities of Iran for quite some time. They have obviously seen something that would lead them to believe that Iran is seriously thinking about using cryptocurrency as a way to get around the sanctions. The past behavior of Iran makes this very possible.

Iran is one of several countries that have been placed under sanctions by the United States. North Korea is the most prominent on that list at the moment. These countries have a history of using technology to accomplish various tasks in order to get around sanctions. This worked very well for several years. However, the technology used by the United Nations has improved greatly since then. It is now much easier than ever before to monitor what these countries are doing on their computer networks. Therefore, the United States can put a plan in place to fight whatever scheme Iran has lined up.