Insights on cryptocurrency platforms' reaction to payment service blockage. Stakeholders warn of negative impacts and call for cooperation between government and private sector for better decisions.
A news briefing on ‘Cryptocurrency Exchange Platforms React to Payment Service Blockage’ was held on January 1, 2024, with the participation of cryptocurrency industry stakeholders at the Iran Chamber of Commerce. During the session, industry players strongly criticized the unexpected blocking of payment gateways and its impact on their operations. Officials highlighted the potential negative consequences on the ecosystem and warned of users shifting to foreign exchanges or underground markets. Private sector efforts to regulate have been hindered by these restrictions, affecting businesses’ financial operations. The Central Bank was urged to explain the reason behind these decisions.
