Government of Iran Organizing Cryptocurrency Groundwork

The Iran Government is preparing its infrastructure to adopt Bitcoin as the currency within the country.

Iranian Deputy Minister of Information and Communication Technology, Amir Hossein Davaee, spoken in an official interview, published on Wednesday:

“The ministry of communications and information technology has already conducted a number of research studies. Since the efforts to prepare the infrastructure to use Bitcoin inside the country. Iranians have taken the developmnt of infrastructure seriously for the new currency”.

He said that the cryptocurrency is consists of two aspects, economic and infrastructural. Also, it includes that using of Bitcoin in Iran will end up being in the general interest of the country.

Iran Front Page report states that Davaee said that building a digital infrastructure. It is a part of the soft power of each and every country. Additionally, Bitcoin potential in the country will build a huge interest among the citizens of the country.

Davaee added

“Arrangements are being made with the related organizations to put together the infrastructure as early as possible”

The head of Electronic Banking at the Monetary and banking Institute said the Financial Tribune that “the central bank of Iran holds a positive view about the adoption of cryptocurrencies.”

The Iranian central bank considers Bitcoin as the illegal mode of payment. Therefore, it discourages the businesses authorities from accepting the cryptocurrencies.

Also Read: European Government declares $30 billion as blockchain beneficiary

Meantime, the regulatory team of Iran aims to set a regulatory framework on digital currencies September 2018.

Amirshekari said the publication:

“CBI monitors Bitcoin as something that can be managed and does not consider it as multi-level marketing or a pyramid scheme.”

Impact of the Bitcoin in the country’s economy

Majority of the companies adopted Bitcoin, people are just feared about the tax associated with it and refused to reveal their original identification, YJC news agency explained.

Morteza Imani-Rad, Iranian economist said by focusing on the impact of the Bitcoin in the country’s economy:

“This Bitcoin is not illicit in the country and Bitcoin transactions are not illicit and legally unrecognizable, so we really don’t want to expect them to affect the Iranian economy.”

Also Read: Cryptocurrencies used for illegal acts warns UAE central bank governor

He repeated that “Bitcoin cannot easily find the way for its installation and therefore cannot have an impact on the economy of Iran.”

He further asserted:

“Bitcoin is ongoing and may become more common. If this happens, then the government force to use this money, especially as the money transfer through banks for Iran, if it remains a part of the sanctions.”

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Kerin is active blogger and guest writer at Coinpedia. She loves writing new updates, price fluctuations and possible insights. Kerin frequently search, review and share her views among large audience via crypto media firms.

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