It seems that the Iranians have decided to follow the example of Venezuela and develop blockchain technology. As Abolhasan Firouzabadi, secretary of the Supreme Council of Cyberspace of Iran, stated: “Cryptocurrency mining is an industry that needs to be developed in Iran.” According to him, cryptocurrency mining is one of the main industries in the cryptocurrency space, so in the near future there will be a platform for legalizing the mining of digital currency.
After President Trump canceled US participation in the JCPOA and reimposed sanctions, Tehran faced serious financial problems.
Decent The collapse of the Iranian riala (IRR) price, which has occurred since 2018, has caused numerous outbreaks of protests among low-income groups. Since then, many Iranians have started buying Bitcoin in order to store funds.
Despite the fact that the government previously in every possible way prevented the trade of digital currency, it has now decided to give the green light to the development of a national cryptocurrency. However, unlike centralized Bitcoin, Tehran plans to control its currency.
Currently, a national cryptocurrency backed by the rial is under development. Its name is not yet known, but the process of ensuring internal and interbank settlements has already begun. After the Central Bank of Iran (CBI) approves the national cryptocurrency, fintech organizations will begin testing it.
In turn, Seyed Abotaleb Najafi, the chief executive officer of the country's central bank (ISC), said that the national digital currency will work without the participation of any institution. Najafi, together with the central bank, plans to use cryptocurrency to circumvent US sanctions.
Such a serious step would be one of the most important decisions in the history of Iran. According to the head of Iran's Civil Defense Department, General Gholam Reza Jalali, this step “will bring great opportunities to the country.”
According to atozmarkets.com
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