Iran plans to launch a centralized state-owned cryptocurrency, partly to avoid looming economic sanctions from the United States.

According to Iranian media reports, a senior official from the government’s science and technology department claims that the currency could be launched in the next three months.

The idea reportedly gained traction in February following the launch of a Venezuelan digital currency.

The first sanctions on Iran will take effect in August, following the Trump administration’s decision to withdraw from the 2015 nuclear deal with Tehran.

Washington imposed sanctions on Venezuela in 2017 and later expanded them to include its digital currency.