2018-8-29 14:20 |
No other jurisdiction has changed its stance on cryptocurrencies as quickly as Iran. From being excessively tough on digital coins and ordering banks not to deal with crypto related businesses in April, to creating the final drafts of its state-backed digital currency, the country has come a long way in the crypto world in a small space of time. Financial Tribune, a local news outlet, revealed a few interesting facts about this new project.
Is This Rouhani’s Dream Project?The draft of the crypto project has reportedly been prepared because the Iranian leader Hassan Rouhani has taken a personal interest in it. Iran had previously been cut off from the international banking system when they were banned from the SWIFT network as part of previous sanctions. It is interesting to note that despite this ban, Iranians have already purchased cryptocurrencies outside of the country worth $2.5 billion, per the chairman of Economic Commission of the Parliament of Iran, Mohammad Reza Pourebrahimi.
Iran and the US are at it again, and in July sources reported that the government was planning to censor crypto exchanges in the country because Rouhani didn’t want money leaving the country. The Iranian people, on the other hand, are moving to crypto as a safe store of value. Zimbabwe and Venezuela are examples of such nations where crypto has made fiat take a back seat.
Is Iran Really Open to the Crypto Revolution?Deputy director in charge of drafting regulations Saeed Mahndiyoun said that the Supreme Cyberspace Council is actively pursuing the national cryptocurrency project. However, this doesn’t mean that everyone in Iran is euphoric about a crypto future. The central bank, for example, hasn’t revealed its position on digital currencies but will be presenting their stance in September this year.
Details about the crypto project are not yet available, but the government’s recent actions have been very positive. In fact, they could be doing this to head off the reintroduction of US sanctions.
Iranian State-Backed Crypto Draft Ready, Awaits Central Bank’s Nod was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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