With the new limit of the Central Bank, the ID deposit limit for cryptocurrency businesses was reduced to about 500 dollors per day.
According to Iran digital economy annotation, “Vandar” company, one of the providers of electronic payment services to businesses, has informed its recipients that based on the new guidelines of “Shaparak”, the daily limit of ID deposit has been reduced from Saturday, 7 September 2024.
According to Vandar’s announcement, with the application of this limit, the daily limit of the ID deposit for each source bank account will be 500 dollors for cryptocurrency businesses and 4000 dollors for other businesses.
As informed by Vandar, transactions with higher amounts will be blocked for 5 days to be checked for compliance with anti-money laundering and terrorist financing laws, and if approved, the blocked amount will be returned to the source account after this period.
“Tetherland” exchange also announced this restriction and asked its users to use “offline deposit” to deposit higher amounts from now on.
In November 2022, the central bank reduced the transaction limit of cryptocurrency platforms from 1000 dollors to 500 dollors per day, and about a month after that, it applied this limit to the national code of users so that each person could not spend more than 500 dollors per day. Deposit to your wallet in cryptocurrency exchanges through the payment portal.
At that time, the ID deposit solution came to help users to overcome these restrictions, but with the new decision of the central bank, this possibility is also limited. The central bank usually states the reason for these restrictions is to combat money laundering.
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