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Iran looks at Bitcoin to protect tourism from US sanctions

March 26, 2019 / travelandtourworld

Iran is looking at adopting more Bitcoin and cryptocurrency as a way to ensure the flow of much-needed revenue from its tourism industry. This move comes as state officials try to prevent the country’s booming tourism sector from being negatively impacted by the resumption of U.S.-led sanctions.Both public and private stakeholders are looking at the benefits of adopting cryptocurrency payments to lift any possible restrictions suffered by visitors to the countries as far as payments are concerned.There is a growing interest between important actors in both the Iranian government and the private sector to explore the use of cryptocurrency payments in the tourism industry. With the onset of renewed economic sanctions, there are fears that visitors to the country will have limited payment avenues while in Iran, a situation that would severely hamper its tourism appeal.