The Iranian government is investigating the economic and infrastructure aspects as Bitcoin prepares for use in the country. According to the information technology ministry, “arrangements are being made” to create the infrastructure for the digital currency “as early as possible.”
Iran Prepares Infrastructure for Using Bitcoin
Iran’s Information Technology Amir Hossein Davaee, Deputy Minister of Communications and Communication Technologies, said in an interview with the Shargh newspaper last week:
The ministry of communications and information technology has already carried out a lot of research work in the country as part of its efforts to prepare the infrastructure for using bitcoin.
Cryptocurrency sector has two aspects, economic and infrastructural… Its adoption in Iran will turn into the general interest of the country. “We, as the country’s main hub dealing with technology developments, have taken very seriously the issue of preparing infrastructure for the new currency” Agreements are being made with relevant institutions to assemble the infrastructure as early as possible.
Iran’s central bank, local Although it considers that it is doing “illegal” trading that discourages businesses from embracing digital currency, there has so far been no provision specifically prohibiting the use of bitcoin as a payment method. Meanwhile, the Iranian government is working on proposed regulations for digital currencies. In addition, the Iranian Bitcoin Facebook group currently has more than 29,000 active members.
How Bitcoin Affects Iran’s Economy
YJC news agency reports that many companies in Iran use bitcoin. However, he stated that he feared tax laws and did not want their identities to be revealed.
The publication asked Iranian economist Morteza Imani-Rad a few questions about the impact of bitcoin on the country’s economy. “This currency is not legal in Iran, but bitcoin trading is not legally unacceptable, so we do not expect it to have any impact on the Iranian economy,” he said.. He also pointed out that the Bitcoin market coverage is very small.. It can facilitate the buying and selling of international oil contracts.
Bitcoin cannot be easily installed in Iran and therefore cannot have an impact on the Iranian economy, on the grounds that many websites offering information about Bitcoin are blocked by the country’s firewall, he repeated.. However, he said: “It is not easy to enter the forex trading market” in Iran because it is “too restrictive”, but it serves Iranians with forex trading.
Bitcoin continues and may become more mainstream. If that happens, the government may have to use that money as a bank transfer, especially for Iran, if it remains part of the sanctions.
Source: bitcoin.com