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Iran Plans to Launch Crypto Rial Pilot Project Within Two Months

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Today’s Cryptocurrency Headline

Iran plans to launch a pilot version of the crypto rial within 2 months, which will initially only cover one area of ​​the country. The new Iranian currency will be issued under the provisions governing the emission of banknotes and coins and will be available exclusively for transactions inside the country. The Central Bank of Iran will be responsible for monitoring the financial and economic impact of digital cash to ensure that it does not negatively affect its monetary policy. Earlier in April, the Central Bank of Iran announced its regulatory framework for CBDC, which is minted and distributed by the country’s central bank.

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to CoinShare, Digital asset investment products saw outflows totalling US$423m last week, the largest since records began by a wide margin. Bitcoin price is almost flat over the past 24 hours. The largest cryptocurrency has been trading in the $20,000 to $21,500 range for the past week, suggesting the bulls may have lost the upside momentum, and the sentiment remains negative. The bears will attempt to pull the price below the psychological level of $20,000. If this happens, the bears will try to pull the BTC/USDT pair to $17,000.

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