Iran Central bank Fire
Central Bank Branch Of Iran Set On Fire, Crypto Community Closely Follows The Developments
November 18, 2019
Iran Central bank Fire
Central Bank Branch Of Iran Set On Fire, Crypto Community Closely Follows The Developments
November 18, 2019

Iranian protesters have set the building of the Central Bank of the Islamic Republic of Iran in the city of Behbahan on fire, as the cryptocurrency community closely follows the developments.

However, BeingLibertarian, the official twitter profile of libertarian Media Company, published a video of what is presumably a branch of Iran’s Central Bank in Behbahan, in the southwest of the country, being set on fire amid protests.

Interestingly, the reaction to the tweet was overwhelmingly positive, with one user saying:

“We might consider trying that here!! More effective than trying to audit it.”

While one user answered with the single word Bitcoin to the video posted on Twitter, the presence of the cryptocurrency community is seemingly limited among those following the events. 

Likewise, a link to the tweet has found its way onto the Cryptocurrencies and Bitcoin subreddits. The post was then upvoted by 78% in the first and 64% in the second community. 

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On November 16, it has been reported by ThePortal, a News Outlet which dedicated to Islamist movements, that the building was set on fire amid ongoing demonstrations against the government’s surprise decision to ration petrol and increase its price by over 50%.

However, Hassan Rouhani, the President of Iran, defended the measure by claiming that it is good for the local population.

Fuel consumption has been limited to 60 liters (almost 16 gallons) per vehicle per month, down from the previous limit of 250 litres and prices spiked to 15,000 rials ($0.36).

Furthermore, every litre over the 60-litre limit is subject to a penalty cost of 60,000 rials ($1.43).

Likewise, in the city of Sirjan in central Iran, the protesters also tried to set a fuel warehouse on fire as well. As per the report, state media claim that one civilian was killed and several others injured and the demonstrations ended by midnight.

Thus, it has also been reported in July 2019 that the United States is seemingly motivated to impose sanctions on Iranian cryptocurrency mining operations.

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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.