Private Equity Moris Beracha Wuani

By Ana Alexandre   The Iranian government’s Economic Commission has approved a mechanism of cryptocurrency mining in the country, according to an announcement by the Iran Chamber of Commerce, Industries, Mines and Agriculture on July 22. Iran’s Economic Commission approves crypto mining ‘mechanism’ Governor of the Central Bank of Iran (CBI), Abdolnaser Hemmati said that “a mechanism to mine digital coins was approved by the government’s economic commission and will later be put to discussion at a Cabinet meeting.” Initially, Iranian authorities announced that they are planning to authorize Bitcoin and cryptocurrency mining earlier in July, when the CBI governor Abdol Hemmati reportedly claimed that the Iranian government had approved some parts of an executive law that would authorize mining of cryptocurrencies in Iran. At the time, Hemmati argued that digital currency miners in Iran should contribute to the country’s economy, rather than letting mine...

Featured image courtesy of Shutterstock By Osato Avan-Nomayo Bitcoin price has risen dramatically in Iran following the government’s decision to grant legal recognition to the country’s cryptocurrency mining industry. Bitcoin Premium Comes to Iran While Bitcoin $6307.03 -0.04% suffered an almost $1,000 drop in the rest of the world, the top-ranked cryptocurrency was reaching new heights in Iran. Buoyed by the government’s legalization of cryptocurrency mining activities, the local price of BTC shot up to more than $26,000 on the localbitcoins platform for Iran. This figure amounts to more than four times than the average spot price around the world. However, there are counter reports that the $20,000+ BTC price in Iran is grossly exaggerated, with the actual value on the street being closer to $8,400. The confusion lies primarily in the difference between the official and black market exchange rial/dollar exchange rate. The license given to cryptoc...

By Billy Bambrough Bitcoin and cryptocurrency trading volumes on Turkey's exchanges has surged over recent days as the country battles to contain a currency crisis that looks set to continue into this week. Koinim, Turkey’s largest exchange, has reported a 63% increase in Bitcoin trading volume, while the BTCTurk and Paribu exchanges have said their volumes are up 35% and 100% respectively, according to CoinMarketCap data . Unlike Iran, where a ban on bitcoin and cryptocurrency trading means those wanting to buy bitcoin must turn to peer-to-peer exchanges like LocalBitcoins, banks in Turkey often still work with local exchanges, meaning fresh adopters can begin buying and trading more easily. As a result, bitcoin trading volume in Turkey on LocalBitcoins has not increased as much as it has on local exchanges. Bitcoin volume on global peer-to-peer exchanges like LocalBitcoins has not increased as much as local Turkish exchanges in recent ...