Will Iran’s National Cryptocurrency meet the same fate as Petro?

The love-hate relationship of the Islamic Republic with the Cryptocurrencies has finally culminated in the creation of yet another national cryptocurrency – dubbed PayMon (covenant in Persian). The country has been crippled financially under the burden of the U.S led economic sanctions and it had been in the works to launch its own digital currency for the most part of 2018. The initial popularity of the mainstream cryptos among the masses was replaced with a blanket ban by the government, only to realize later the potential of the technology to tackle the sanctions imposed on the country. Now the launch…...