Russia and Iran Crypto Actions
Russia wants Crypto payments for International Trade, not citizens
- Russia wants to utilize Crypto to circumvent Western sanctions. Recall back in January Russian Central Bank wanted to ban all Crypto's as they were just a pyramid scheme.
- Russian Ruble and VAT Taxes to lower from 20% to 15%.
- Russia prepares to mine Crypto via a byproduct known as flare gas (like is being done in Texas and Middle Eastern countries), Working w/ BitRiver they will reduce carbon emissions and earn BTC
Iran Aims to Roll Out Pilot Version of Crypto Rial Within 2 Months.
Their Central Bank states this will be different than other cryptos.
Often referred to as the Crypto Rial, it will start by replacing all banknotes people hold and are in circulation (no more paper transactions)
Aug. '22
- Just one region in Iran to start with (AKA a pilot program)
- The Central Bank of Iran (AKA CBI) will be the only minter of the Crypto Rial, The CBI will also monitor the economic and financial impact of the Crypto Rial. Recall BTC payments are NOT allowed in Iran.
CBI back in Jan. '22 stated they will seek to use Crypto to settle Foreign Trade agreements
Additionally, Iran cut power to Crypto miners ahead of Summer Heat wave - hmm was it that or a way to clamp down on this growing sector within Iran? Keep in mind this is on top of Iran continuing to crack down of 'illegal crypto' mining over the past 2-years!
- Having never been to either country, nor a desire, just wanted to provide insight from other areas of the globe! My wish is the use of Crypto be only used for good and never to reinforce Evil!!!!! We do have a trend emerging, the use of Crypto to settle foreign trade and perhaps bypass Western trade sanctions.
