The Iranian government has approved the regulation that legalizes the use of cryptocurrencies in domestic and foreign trade in order to circumvent international embargoes.
Minister of Industry, Mines and Trade Riza Fatemi Amin In particular, the statement made by Russia in order to pierce the increasing embargoes on the financial and banking sector after the war Euro and to dollars As an alternative, the bill legalizing the use of Bitcoin and other cryptocurrencies was approved. Amin stated that the approval process was completed last Sunday. In addition, the Iranian government announced at the beginning of August that it had successfully completed the first import transaction of 10 million dollars with crypto money.
Iran’s Trade Promotion OrganizationIran’s deputy minister of trade, who leads the (TPO) Alireza Peymanpak In his statement on the matter, “Until the end of September, the use of cryptocurrencies and smart contracts will be widely used in foreign trade with target countries” he stated.
Iran, which has had a turbulent relationship with cryptocurrencies throughout the past, first banned the use of cryptocurrencies in 2019. In addition, according to Iranian police reports 21 March 2022since more than 9 thousand confiscated an illegal crypto mining facility. After crypto miners were cited as the biggest source of frequent power outages in the country, and with the inevitable increase in demand for this sector, government officials stepped up their work on cryptocurrencies. At the point we have reached, a compromise has been made with cryptocurrencies and their use has been moved to legal status.
Moreover SEPAHof (Iranian Revolutionary Guards Army) behind the crypto money and mining activities in the country shadow executive power It is among the well-known facts. It is alleged that an Iranian citizen is prohibited from even making public statements about these issues, let alone mining, without the permission of the SEPAH organization.