Iran digital currency regulations released soon, definition of quasi bitcoin for goods

Iran digital currency regulations released soon, definition of quasi bitcoin for goods


After about bitcoin for several years, the Iran government will finally be in a few months through the digital currency regulations.

About the proposal

According to FinancialTribune reports, the Iran National Network Center (NCC) drafted a proposal for digital currency regulation. It is expected that the bill will be in the next 4 months by a network of High Commission for approval. Reports mentioned:

In recent years, the digital currency, especially the widespread use of bitcoin prompted the official deployment of regulatory measures.

There have been two of the digital currency in two different committees were evaluated, one is economic influence, the other is a security problem. NCC supervision on behalf of SaeidMahdavioon said: the two committee will hold a meeting in the next two months, and determine the final for the bill.

He added: “we put forward 5 scenes in Iran digital currency regulation…… NCC Regulatory Commission tend to take legal measures to achieve the best application of digital currency.

2013 has already begun

The Iran government began to study the digital currency regulatory framework from 2013, when NCC released a report, the bitcoin regulatory proposals.

That year, Iran shoe company PersianShoes reached bitcoin, they opened a shop only to accept bitcoin payments. This shoe company CEOMorRoghani wrote on the website, you can not take the other payment to sell their products in the world. He explained:

The problem is that our company is located in Iran, most of the payment system is not willing to cooperate with us or may bring great risk to our business.

Although bitcoin payment to help him solve the problem, but the United States sanctions against Iran or prohibit U.S. citizens to purchase the products made in Iran.

Bitcoin and the Bank of Iran

Although NCC is leading the Iran digital currency regulation, but also some people think that the Central Bank of Iran (CBI) also need to participate. The National Bank of Iran’s company SadadInformaticsCorps CEOFaramarzKhaleqi said:

Bitcoin activities include money creation, so the Central Bank of Iran need to set the basic rules and regulation related activities, otherwise the economic cycle will be destroyed.

Mahdavioon said in an interview that the central bank will consider digital currency is defined as a commodity, is responsible by the securities and exchange organization.

At present, CBI has not made official comment bitcoin, monetary and Banking Association Electronic Banking Organization Chief NimaAmirShekari said last year. He added, for the digital currency, the central bank chose to take a “wait-and-see” policy.

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