The Supreme Council of Cyberspace in Iran welcomes the use of bitcoin in the country

nRunaway Comment: The secretary of the Supreme Council for Cyberspace in Iran stated that the committee supports the use of bitcoin in the country, only that it needs to be controlled and the research done in advance. The committee is currently working with the Central Bank of Iran on research and will detail the investigation and introduction of the government’s understanding of the virtual currency. Of course, bitcoin can help Iran to avoid the impact of external interventions such as economic sanctions, but it may also be exploited by the government’s hostile forces. Because Bitcoin is free from any sort of power, the government should exercise due watch.n
nTranslation: Annie_Xun
When it comes to the official endorsement of bitcoin, Iran is probably not the first to come to mind. In the Middle East alone, the extremely rich UAE in the Gulf is more likely to come to your mind first because they are more likely to compete with each other and use the latest technological miracle to show off wealth. Nevertheless, just days ago, the Iranian government has repeatedly stated its acceptance of domestic use of Bitcoin.n
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Welcome to Irann


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Abolhassan Firouzabadi, secretary of the High Council of Cyberspace at Iran, told local news agency ILNA that its agency supports the domestic use of bitcoin, though in a controlled manner.n
n”We welcome bitcoin, but we have to regulate bitcoin and any other digital currency, and we must study to consider using the new currency.”n
nIran’s Supreme Council for Cyberspace is working with the Central Bank of the Islamic Republic of Iran to conduct research in preparation for the domestic use of bitcoin. Iranian daily The Financial Tribune reports that an official document details regulators’ knowledge of the virtual currency and will be published in September 2018.n
He also admitted that “there are already many Iranians engaged in bitcoin trading, including buying, selling and mining, and even trading on exchanges, creating content and setting up startups,” though it has not been approved by the government.n
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Pros and consn


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From the Iranian government’s point of view, Bitcoin is like a double-edged sword.n
Iranian economy has been subject to economic sanctions for a long time to isolate it from the global market. Getting a way around the international financial system can greatly help domestic importers and exporters to evade external intervention. In particular, hostile parties such as the new Saudi leader and the new president of the United States have publicly stated that they would consider further punishing Iran and take advantage of this advantage even further.n
On the other hand, domestic leaders must consider how to control the economy and prevent bitcoin from contributing to political differences. The younger Iranian generation is considered to have the highest level of education in the region, and is especially familiar with technology. It is widely known that Twitter was blocked in the 2009 presidential election in order to delay the spread of external incitement by the government. However, even if the government in a political crisis discovers that foreign entities subsidize non-governmental organizations with bitcoin, this measure can not be taken against bitcoin.n
n”Our perception of Bitcoin is positive, but that does not mean we will not demand regulatory compliance because compliance is a must.”n

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