my title is the question and I am wondering if i can sell bitcoin to the people in Iran via Local Bitcoin . If not , please give me a reason
According to a US gov site:
Although not an international financial hub, Iran has a large informal economy, characterized by sanctions evasion, restrictive taxation, widespread smuggling, currency exchange controls, and capital flight
I think that the reason why rates are so high are most likely the fact that the government of Iran is trying to restrict people from buying foreign currencies, which makes their national currency worth less in practicality than it officially is.
That's why you see the sudden surge in prices when the government showed interest in legalizing the trading of it or whatever. People are trying to use bitcoin as a way to take capital out of rials and into foreign currencies. Thereotically you could make a profit from arbitraging the difference, but realistically, you're never going to get the official going rate for their currency when you try to exchange it back to a liquid one.
