Iran Feeling Heat from SWIFT Sanctions, National Cryptocurrency Ready for Blast-off?32.31

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) may have just pushed Iran to the wall in its plans to build a state-issued cryptocurrency, having abruptly ejected several banks from the marginalized Middle-Eastern state under mounting pressure from the US government.

Coming on the heels of stern US oil and financial sanctions against Iran over its nuclear arms programs, Belgium-based SWIFT appears to have once again buckled under the weight of the White House—with US Treasury Secretary Steven Mnuchin having told reporters the financial messaging outfit would also feel the heat of sanctions if it continued to service select Iranian banks, Al Jazeera reported.

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