Technology of Iran stated that the experimental model was ready for a digital currency developed by the Government of Iran. (3) In June 2018, the Deputy for Management and Investment at the Directorate for Scientific and Technological Affairs of Iran stated that We are trying to prepare the grounds to use a domestic digital currency in the country … This currency would facilitate the transfer of money (to and from) anywhere in the world. Besides, it can help us at the time of sanctions. . (4) In October 2018, the head of the Civil Defense Organization of Iran stated that cryptocurrencies can help bypass certain sanctions through untraceable banking operations . 303. Prohibition on transactions related to, provision of financing for, and other dealings in Iranian digital currency (a) In general All transactions related to, provision of financing for, and other dealings in Iranian digital currency by a United States person or within the United States are prohibited. (b) Penalties The penalties provided for in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act ( 50 U.S.C. 1705 ) shall apply to a person that knowingly violates, attempts to violate, conspires to violate, or causes a violation of subsection (a) to the same extent that such penalties apply to a person that knowingly commits an unlawful act described in section 206(a) of such Act. 304. Sanctions with respect to foreign persons that engage in significant transactions for the sale, supply, or transfer to Iran of significant goods or services used in connection with the development of Iranian digital currency The President shall impose 5 or more of the sanctions described in section 6(a) of the Iran Sanctions Act of 1996 ( Public Law 104–172