Iranian Association Calls for Stable Crypto Regulation as Government Plans Widespread Use of Crypto in Foreign Trade – Bitcoin Regulation News


Affiliation of Iranian importers has confused the need for a secure regulatory framework for cryptocurrencies now that Iranian authorities are officially using crypto to pay for imports. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in international trade with target countries,” a government official said.

Import Affiliation: Iran Wants Stable Crypto Regulation

Alireza Managhebi, chairman of the Iranian Importers and Representatives of Overseas Companies Group (Imports Affiliation), expressed considerations regarding the country’s crypto regulations on Saturday, local media reported.

He confounded that a secure regulatory framework for cryptocurrencies must be established for cryptocurrencies to be used effectively as a means of payment for imports. Noting that crypto could be helpful in this regard under the precise regulatory infrastructure, Managhebi said:

Our major and most vital concern is that this new methodology may not be exploitable by some people.

“The main question is whether the Iranian government has come up with elaborate guidelines for the use of cryptocurrencies which will not change for several months, and in the meantime, companies active in this digital subject will not be harmed”, did he declare. detailed.

Managhebi noted that the Iranian federal government had recently introduced the official use of cryptocurrency to pay for imports. Nevertheless, he clarified that the claim that this could instantly end the dominance of the greenback in Iran is simply not very correct as both the greenback and the cryptocurrency have their own locations in the Iranian market.

The affiliate manager said:

It is absolutely mandatory to teach and prepare people to use this new know-how in Iran in addition to having safe rules in this regard.

Earlier this month, Alireza Peymanpak, deputy minister of Iran’s Ministry of Commerce, Mines and Trade and chairman of the country’s Trade Promotion Group (TPO), said the first official import order was properly positioned with cryptocurrency. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in international trade with target countries,” he added.

What do you think Iran uses cryptocurrencies to pay for imports? Tell us in the comments section below.

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Kevin Helms

Austrian economics expert Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His activities focus on Bitcoin security, open source programs, community results, and the intersection between economics and cryptography.

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