Bitcoin and the Central Bank Turmoil: Impact on Iran's Financial Stability
by aria-crypto.com
January 10, 2025 at 19:18
Bitcoin and the Central Bank Turmoil: Impact on Iran's Financial Stability
Administrators of Bonbast.com, the leading platform for tracking Iran's currency, shut down the website following severe DDoS cyber attacks and criticism from Central Bank Governor Mohammad Reza Farzin. The closure of this critical information source comes as the Iranian rial records low values against the U.S. dollar, exacerbated by an energy crisis and geopolitical tensions. The website was accused by the Central Bank of providing misleading market signals during a period marked by international conflicts and economic sanctions. The depreciation of the rial is further linked to low oil prices and its effects on Iran's economy. The loss of Bonbast.com as a resource hampers the ability of traders and citizens to accurately gauge currency values amidst these challenging conditions. The shutdown highlights the broader implications of financial data access and central bank policies on national economic stability.
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