19:07 Monday , July 30th 2018

According to CCN, as the country prepares to face economic sanctions imposed by the Trump administration, Iran's national currency Rial has crashed to its record low against the U.S. Dollar on Monday, trading on an average at 100,000 Rials on the black market. With other unfavorable restrictions imposed by the Iranian authorities, some Iranians are turning to bitcoin and similar decentralized assets to elude sanctions. Since May 2018, when the U.S. announced its sanctions against Tehran, bitcoin trading volume within the country has experienced a marked uptick.