• Cryptocurrency is a kind of digital currency in which cash production and verifying the authenticity of its financial transactions are controlled by a series of encoded algorithms. Usually they work based on decentralized networks (without dependence on a central authority).

  • Iran’s Minister of Information and Communications Technology Mohammad Javad Azari Jahromi has urged the regularization of bitcoin mining business in Iran, given the recent reports of bitcoin miners’ use of Iran’s cheap power.

  • Iranian authorities, in cooperation with four local banks, have launched the PayMon cryptocurrency, secured by gold reserves, to bypass international sanctions. At first, 1 billion PayMon tokens will be released, Trend reports referring to the website.