Iranian Central Bank Will Consider Expert’s Opinion Before Regulating Cryptos

Iranian Central Bank Will Consider Expert’s Opinion Before Regulating Cryptos

The government of Iran is currently writing the drafts of its cryptocurrency regulatory framework and now the Central Bank of Iran has publicly affirmed that it is considering the opinions of experts in the industry before finalizing the draft.

This is a very important moment for cryptos in the country as Iran has received sanctions from the United States and the country and some people are urging for the usage of cryptocurrencies in order to escape them. Also, by having a proper framework, blockchain business could finally thrive in the country and leave a grey area of uncertainty in which they are in right now.

On the same day of the announcement, the Central Bank of Iran has uploaded plans for its crypto regulation and affirmed that it is set to discuss the rules with experts in Tehran today, January 29.

The Possible Crypto Ban

Unfortunately, as reported by Al Jazeera, maybe not everything in the framework will be very pleasant for crypto investors. Some sources have affirmed that crypto usage inside the country could be banned and that people would not be able to hold big amounts of crypto.

Abdolnaser Hemmati, from the Central Bank, has affirmed that the conferences, which will last two days, will be the big moment to convince the government members not to domestically ban cryptos. Technicians and experts are making suggestions at the moment and nothing is set in stone at the moment.

If cryptos are banned, the repercussion will be significant for all the crypto-related businesses in the country. Many exchanges and similar businesses from the country are obviously going to be affected by the measure.

There is even the chance that a new state-backed cryptocurrency may be unveiled at the conference, though, a prospect that is considerably more positive than the ban (but the two things may happen together).

According to reports made by local media outlets, a national cryptocurrency could be used in order to circumvent the sanctions from the United States and trade internationally.

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