Video Digest, April 25: Central Bank of Iran Bans Cryptocurrency Dealings, Bitcoin Price Finally Hits $9,000, Russia to Put More Regulations on Cryptocurrency Market, Amazon to Enter the World’s Cryptocurrency Market

Welcome to Coin Idol TV News channel. Today we are featuring the most interesting news or the cryptocurrency world. The burning topics are: Central Bank of Iran bans cryptocurrency dealings, bitcoin price finally hits $9,000, Russia to put more regulations on cryptocurrency market, namely ICOs, Amazon to enter the world’s cryptocurrency market by implementing blockchain.

Central Bank of Iran Bans Cryptocurrency Dealings

The Central Bank of Iran (CBI) has put a ban on the country’s banks from offering services to all cryptocurrency exchange firms due to money laundering concerns in the country.

The Islamic Republic News agency (IRNA) on Sunday reported that the CBI’s Supreme Committee, in charge of curbing money laundering and stopping capital flight in Iran, issued a circular disallowing banks and other financial institutions from carrying out transactions that enable buying, promoting and selling cryptocurrencies.

Meanwhile, Iran has been actively exploring the development of its own blockchain-based, state-issued cryptocurrency coming next to the likes of Venezuela’s own oil-backed ‘petro’ as a means to avoid economic sanctions.

Bitcoin Price Finally Hits $9,000

On Monday, 23 April, Bitcoin finally breached $9,000 and that is boldfacing advocates of the largest cryptocurrency.

Many traders have quoted a lot of reasons for the recent two-week rally ranging from an end of selling by investors wanting to increase cash for taxes to optimism that U.S regulators will have to work tirelessly to shape guidelines that will allow all these digital currencies to prosper.

Russia to Put More Regulations on Cryptocurrency Market, Namely ICOs

The Russian Association of Cryptocurrency and Blockchain (RACIB) will design a set of rules to make ICOs safer for customers to deal with, according to rbc.ru. The project aims at checking the reliability of information about the founders, the business plan, and its perspectives for the future.

A special committee within RACIB will be established in order to supervise new projects for compliance with fintech regulations. It will check whether an ICO has a website, the frequency of plagiarism in it, and information about the founders’ other projects. Furthermore, each project has to submit a white paper, a business plan, and prove its viability.

Amazon to Enter the World’s Cryptocurrency Market by Implementing Blockchain

Amazon has become one of the recent well-known companies to join the blockchain technology area. On April 19, electronic commerce giant has introduced AWS Blockchain Templates in a blog post. It aims at simplifying the process of creating blockchain-based projects.  

Each user can choose a platform where to place his framework. It can be an Amazon Elastic Container Service (ECS) cluster or an EC2 instance based on the Docker platform.

Having signed up for AWS, you are free from any additional charge for using the financial technology system. However, you still have to pay for the resources that company uses to make networks work. The templates will be supported in any region, according to Amazon.