The Iran Blockchain Community (IBC) has had its operations halted by the Islamic Republic of Iran’s Ministry of Interior, although the group claims it has yet to receive a direct notification.

As per local news sources, a notice published in the local daily Hamshahri Online in the previous week requested information on IBC’s financial performance and contacts with digital currency platforms.

The ministry halted the organization’s operations over the weekend. Still, IBC spokeswoman Sepehr Mohammadi, the CEO of one of the two cryptocurrency platforms listed as sponsors on the association’s site, stated that the board members received neither verbal nor written notice.

The IBC chairman stated in an open letter to the Social Affairs Organization that the organization has the authority to assess the performance of blockchain ecosystem players. The IBC’s goal also includes creating and posting caution lists for newcomers to prevent scams.

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Because high-risk Iranian crypto businesses were on the IBC’s warning list, Mohammadi thinks this is the primary reason for the prohibition. “Vested interests will do anything to stop IBC’s efforts. They managed to publicize the notice before IBA was informed,” he said.

A member of parliament has been reported of moving foreign cash offshore by crypto-related domestic nonprofit groups, as per news. However, IBC, as one of the cryptocurrency and blockchain NGOs, refuted the accusation, stating that the organization is dedicated to developing blockchain technology in the nation.

Iran is pursuing proper regulation for digital currencies following a summer prohibition on cryptocurrency mining. Iranian President Hassan Rouhani stated that cryptocurrency operations must be legalized in order to safeguard and maintain national interests. He advocated for collaborative research amongst many stakeholders to provide a legislative structure for digital currencies.

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