Despite Bitcoin Price Dips, Crypto Is a Safe Haven in the Middle East
Bitcoin fell 40 percent this week from coronavirus shocks, but it's still seen as a safe haven in the Middle East.
Legislation proposed this week would make it increasingly difficult, and risky, for cryptocurrency exchanges to sell bitcoin in Iran.
A Turkish firm has been granted a license to operate a data center with up to 6,000 bitcoin mining machines.
Iran's President has ordered officials to develop a new approach to cryptocurrency mining.
Regions with weak states and educated diasporas are seeing a rising demand for cryptocurrencies, stablecoins and decentralized applications.
Although China remains the leading region for bitcoin mining, the coronavirus downturn is changing the picture in other geographies.