DUBAI :Iran made its first official import order using cryptocurrency this week, the semi-official Tasnim agency reported on Tuesday, a move that could enable the Islamic Republic to circumvent U.S. sanctions that have crippled the economy.
The United States imposes an almost total economic embargo on Iran, including a ban on all imports including those from the country's oil, banking and shipping sectors. Cryptocurrencies such as bitcoin are highly volatile, making them impractical for large-scale payments.
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