Iran’s intention to block bank accounts highlights the necessity for decentralized currencies to coexist alongside cash and CBDCs.
A member of the Iranian parliament informed local media that the government intends to impose additional fines on women who do not wear the headscarf in public, including freezing their bank accounts if they do not comply after two warnings.
During an interview with Iranian media on December 6th, Hossein Jalali, a member of the Cultural Commission of the Islamic Consultative Assembly, said that “unveiled individuals” will get an SMS imploring them to observe the legislation and wear a hijab, followed by a “warning phase,” and then maybe having their bank account blocked.
For continued access to financial instruments, activists and dissidents have historically turned to cryptocurrencies in response to such government acts.
As part of a bigger effort to convince the government to abandon its mandatory headscarf rules, an increasing number of women are burning or refusing to wear the hijab.
Some convoy protesters resorted to cryptocurrency as a means of funding the cause when GoFundMe pulled the campaign from its website.
The CBDC has been under fire when the presenter of the famous YouTube channel, Wall Street Silver, said in a tweet on December 6 that people should be afraid of their governments having complete control over their finances.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.