Iran’s central bank using vast quantities of cryptocurrency championed by Farage, says report
AI Summary
A report by Elliptic, a crypto analytics company, indicates that Iran's central bank has been using significant amounts of Tether, a cryptocurrency, potentially to bypass the global banking system. The report traced over $507 million of Tether stablecoins, which are pegged to the dollar, passing through accounts seemingly controlled by the Iranian central bank. This accumulation suggests a strategy to trade or support the Iranian rial. The use of Tether by Iran raises questions regarding Nigel Farage's support for the cryptocurrency, as he has publicly advocated for it and planned to discuss it with the Bank of England governor. Farage has touted Tether as a stablecoin that facilitates the movement of money between conventional currencies and cryptocurrencies.
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This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).
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