$10 million crypto payment by Iran, cryptobank Nuri files for insolvency, Tornado Cash blacklisted in US

2 min readAug 10, 2022


Photo by Brian Wangenheim on Unsplash

Iran did first $10 million crypto payment for import

Iran completed a $10 million cryptopayment for import for the first time ever. According to a tweet from the country’s Deputy Minister of Industry, Mines and Trade, Alireza Peyman Pak. Apparently, this is the first of a long series of transactions of this type.

Pak seems to have identified cryptocurrencies and blockchain technology as crucial to everything Iran seeks to achieve with its foreign trading partners. It’s not reveiled which cryptocurrency is being used.

Source: Coinnounce

German crypto exchange Nuri files for insolvency

Nuri GmbH, a German-based cryptocurrency exchange, has filed for insolvency, noting the ongoing digital asset market downturn as well as a raft of macroeconomic uncertainties.

The company, founded in 2015, initiated insolvency proceedings with the Berlin Court, according to a release Tuesday.

In reference to the implications of the temporary insolvency, it won’t impact Nuri customers’ funds on Bank Account (Euro), Crypto Wallets & Vaults (Bitcoin & Ether) nor Nuri Pot Investments.

Source: SeekingAlpha

Tornado Cash on blacklist in the U.S.

Cryptocurrency mixing service Tornado Cash, has been blacklisted in the United States.

However, this isn’t the first time when the U.S. has imposed a ban on a company. The following companies have also been slapped by the authorities. The US Treasury Department has banned all Americans from using the website because it played a pivotal role in the laundering of billion dollars worth of crypto.

It had been one of the major tools exploited by hackers, the most notable one being the $625 million hack of Axie Infinity’s Ronin Network in March by the Lazarus Group based in North Korea.

Tornado Cash co-founder Roman Semenov also tweeted that his Github account has been suspended.

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