Iran wants to regulate cryptocurrencies

The Iranian Association of Importers emphasized the importance of using cryptocurrencies to pay for foreign goods imported into the country. The head of the organization, Alireza Managebi, expressed concern about the regulation of the crypto industry in the country. According to him, in order to successfully pay for imports in cryptocurrency, it is necessary to create a stable regulatory framework.

«The main question is whether the Iranian government will provide fixed rules for the use of cryptocurrencies that will not change for several months, and whether the business operating in the field of cryptocurrencies will not suffer ,» Managebi said.

The head of the Iranian importers noted that the authorities plan to actively use cryptocurrencies in foreign trade, but this will not put an end to the dollar’s dominance in the country, as both the dollar and cryptocurrencies perform their functions in the Iranian market. According to Managebi, by the end of September, the use of digital currencies and smart contracts will be widespread in foreign trade with Iran’s target countries. However, the official did not specify how it is possible to develop stable rules for the entire financial infrastructure in such a short time.

Maghanebi assures that in order for cryptocurrencies to firmly and safely enter Iran’s trading system, it is necessary to constantly educate people on their use, starting with the basics.

In early August, Iran registered its first official order for the import of goods paid for in cryptocurrency in the amount of $ 10 million. The country did not specify which cryptocurrency was used. Despite the ban, Iranians did not disdain to Binance-nezakonno-obslugovuvala-meshkancziv-iranu-vprodovzh-2-rokiv/">use the Binance cryptocurrency exchange to conduct cryptocurrency transactions.