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CBI tasked with regulating cryptocurrency market
He emphasized that all individuals and businesses operating in the cryptocurrency sector are subject to the CBI’s supervision and must obtain the required licenses from the bank to establish and operate, according to president.ir.
Pezeshkian, in his letter to CBI governor Mohammadreza Farzin, clarified that based on the law ratified on June 20, 2023 by the Parliament, the CBI is the exclusive authority for organizing the cryptocurrency market.
“This includes determining permissible holdings and exchanges, as well as being the sole body responsible for licensing, regulation, supervision, and issuing necessary instructions for both global and stablecoin cryptocurrencies.”
All natural and legal persons and businesses active in the cryptocurrency sector are considered under the supervision of the CBI as their establishment and operations are contingent upon obtaining a license from the bank, Pezeshkian added in his letter.
The CBI will have direct and primary access to all data, statistics, information, and documents of entities operating in the cryptocurrency sector.