A draft of an Iranian state-approved and backed crypto has been affirmed by the National Cyberspace Center of Iran. Reportedly the president Hassan Rouhani himself ordered the crypto project.
The man in charge of regulations drafting for the Supreme Cyberspace Council of Iran, Saeed Mahdiyoun, has allegedly stated that the authority he represents has been actively pushing for a national crypto, and that Iran’s ambiguous crypto situation will be cleared up with Iran’s Central Bank giving its official position on the matter in early Autumn.
Currently, there is a ban on crypto operations in Iran by the local banks, because of worries regarding financial scams.
WHY IS THIS IMPORTANT?
- Adopting a national cryptocurrency may help Iran fight against the new American sanctions and allow its nationals to participate more actively in global trade.
- Being a means to overcome traditional financial sanctions, crypto will have to be taken into account by governments as a serious force that cannot be overlooked.
Read more on Insider.pro about Iran’s preparations for a national crypto.