Hemmati: Iran plans to organize not curb cryptocurrencies
Iran’s Economy Minister Abdolnaser Hemmati said that the government intends to organize digital currencies and cryptocurrencies instead of putting limitations on them.
Addressing a national event on digital currency on Saturday in Tehran, Hemmati stated that Iran is moving towards managing and eliminating the adverse effects of digital currency on the economy and instead using its positive effects.
He cited the advantages and progress of digital currency as the reasons behind the decision.
Digital money is within the scope of the Central Bank of Iran (CBI) authority, the minister said.
As to cryptocurrencies, he added, it is hoped that they would be developed with the aim of growing assets and youth employment, helping to nullify sanctions and aligning Iran’s activities with the global economy.
‘Framework for cryptocurrencies’
Also on Saturday, the document titled “Central Bank of Iran Policy and Regulatory Framework for Cryptocurrencies”, was officially published following its approval by the CBI’s High Council.
This initiative aims to leverage the opportunities and potential in the development of modern financial technologies.
According to IRNA, the CBI announced that the framework was formulated and approved in four sections and 19 articles.
The CBI has developed this framework to harness the potential of advanced financial technologies, enhance transparency in cryptocurrency-related activities, and instruct the public in this area.
Given the emerging nature of cryptocurrencies and the rapid developments in this field, particularly in digital assets, the CBI, in collaboration with other relevant bodies, will continue to monitor the sector. If necessary, it will revise the framework and provide updates accordingly.