Iran Network: Bitcoin welcome, but to be regulated

nStorms commentary: Iran’s network recently publicly expressed its willingness to support the local use of bitcoins, but only if the various cryptocurrencies must function under their supervision. Judging from the use of cryptocurrencies in the world, Iran’s attitude corresponds to the policies of most countries and also indicates that cryptocurrencies may be developed in Iran.n
nTranslation: Inan
Iran’s High Council for Cyberspace (HCC) said it “welcomes” Bitcoin, but also raised some warnings.n
According to the Iranian newspaper “Financial Tribune,” Abolhassan Firouzabadi, Iran’s head of network division, said: “We welcome bitcoin, but we have to regulate bitcoin and other digital currencies and they must comply.”n
He also pointed out that although Iran does not currently have any specific regulation of cryptocurrencies, bitcoin has been used in local payments, trade, mining and many other areas.n
However, he also warned:n
n”We are implementing control and regulatory mechanisms on cryptocurrencies through our cooperation with central banks and related entities, but one must understand their demand-side risks and dangers.”n
nHe said that although the central bank’s current position on Bitcoin is still not clear, it will soon be given a clear explanation.n
Firouzabadi also pointed out that with the recent continuous rise in bitcoin prices, the HCC and Iran’s central bank have started to work together on the digital currency and will continue this work.n
Just two weeks ago Naser Hakimi, deputy director of the Iranian Central Bank’s new technology unit, warned the public about the uncertainty surrounding bitcoin and other cryptocurrencies, reminding bitcoin investors that their funds are at risk.n

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