![image.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1519292155/iwmul91zv1jpe7c7yrdx.png)

At the end of last year, it was reported that the Iranian government was interested in using Bitcoin and another crypto as a means of circumventing the economic sanctions imposed against the country. But the government has obviously changed its point of view. Today, the Central Bank of Iran reported that it never recognized Bitcoin as an official currency for payment, and did not deal with Bitcoin or any other crypto. The bank also warned Iranian citizens of the high risk of investing in the potentially unstable market, saying they have a chance to "lose their financial assets". At the same time, the Bank cooperates with other institutions on the development of a mechanism to control and prevent the use of digital currencies in the country. The bank also added:

>"Dynamic fluctuations in digital currencies, along with competing for business activities that are carried out through network marketing and pyramid schemes, have made the market of these currencies extremely unreliable and risky."

### Countries creating their own coins
Iranian Minister of Information and Communication Technologies, Mohamed-Javad Azari Yahromi, announced today that Iran's Postbank is working on a locally developed crypto, which will have to be tested by the ministry. Iran will not be the first country to develop its own digital currency as a way to circumvent financial sanctions. Venezuela recently released its Petro coin, which is backed by oil reserves from countries in South America. At the end of last week, the newest digital currency in Europe - Korona, which works with the Lightning Network, was launched in Budapest, Hungary. Jean-Marc Steinmeier, CEO of Korona, is optimistic about the future of crypto. Stiegemeier added more:

>"Over the next few years we will see a revolution in the banking sector. Within ten years, crypto will be recognized globally. "

Although sanctions against Iran are not as severe as before the nuclear deal with the West in 2015, the country still has a problem with large international payment networks such as Visa, Mastercard, and PayPal. As in other parts of the world, like in Africa, economic crash makes decentralized payment methods more and more attractive to Bitcoin.

image source - Instagram