Will Iran’s National Cryptocurrency meet the same fate as Petro?

2 min read

The love-hate relationship of the Islamic Republic with the Cryptocurrencies has finally culminated in the creation of yet another national cryptocurrency – dubbed PayMon (covenant in Persian). The country has been crippled financially under the burden of the U.S led economic sanctions and it had been in the works to launch its own digital currency for the most part of 2018. The initial popularity of the mainstream cryptos among the masses was replaced with a blanket ban by the government, only to realize later the potential of the technology to tackle the sanctions imposed on the country. Now the launch…...

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Faisal Khan Faisal is based in Canada with a background in Finance/Economics & Computers. He has been actively trading FOREX for the past 11 years. Faisal is also an active Stocks trader with a passion for everything Crypto. His enthusiasm & interest in learning new technologies has turned him into an avid Crypto/Blockchain & Fintech enthusiast. Currently working for a Mobile platform called Tradelike as the Senior Technical Analyst. His interest for writing has stayed with him all his life ever since started the first Internet magazine of Pakistan in 1998. He blogs regularly on Financial markets, trading strategies & Cryptocurrencies. Loves to travel.