Iran Pitches Crypto Rial to 8 Countries for Transactions, Avoiding US-Dollar Led Global Commerce Altogether

Sanction-hit Iran is negotiating the use of its state-backed cryptocurrency with eight foreign countries, according to a Tehran Times report. The Middle Eastern nation had its representatives met with their counterparts from Switzerland, South Africa, France, England, Russia, Austria, Germany, and Bosnia. According to Mohammad-Reza Modoudi, the acting head of Iran’s Trade Promotion Organization, the meeting took place in hopes to lure foreign investors into the country. At the same time, the representatives also discussed how Iran would settle its global trades while hit by an international banking sanction. Digital…

‘Utility’ No More? ConsenSys Pitches ‘Consumer Token’ Label

The Brooklyn Project – the token regulation initiative headed by ethereum startup ConsenSys – wants to dispense with the concept of “utility tokens” in favor of what it calls “consumer tokens.” The Project discussed its intention to shift the discourse at the Fluidity Summit on Thursday during a presentation by ConsenSys’ policy lead Pat Berarducci and OpenLaw’s Aaron Wright. According to a document published by the Project, the initiative broadly aims “to provide a basic framework for long-term oriented behavior and to help establish trust between the initiators of consumer token projects, their…