Cryptocurrency

Iran Expected to Lift Cryptocurrency Ban in September

Nasser Hakimi, the deputy of innovative technologies at Central Bank of Iran recently stated about Iran’s financial regulator who will be looking into the country’s ban on cryptocurrency. He, being a central bank official, also said that the country’s regulations and official statements related to the virtual currencies are likely to finalize in September.

Nasser Hakimi dictated more details while speaking at a cryptocurrency convention last Sunday at Tehran, about the distributed ledger technology. The deputy made several statements hinting that the Iranian administration is expected to abolish the cryptocurrency ban from the country by September end on tentative notes.

Mr. Hakimi remarked about the major concern for this which is globally prevalent of the cryptocurrencies. As a result, the High Council of Anti-Money Laundering imposed a ban on the cryptocurrencies because of global accusations of money fraud and laundering and terrorism on cyber.

However, after careful considerations by government officials and administrators, it seems as if the blanket of the ban might be revoked after detailed review further.

This ban of cryptocurrency was announced initially announced in April this year to shed light on issues that concern money fraud and laundering as finance terrorism.

As a result, this cryptocurrency ban shall lift when Iran supposedly announces the fate of crypto blanket from the country after the finalized statements are released by the end of September this year.

As per the reports of Financial Tribune, the new cryptocurrency policies of Iran are developing under the conscious guidance of Hassan Rouhani, the President.

Testing National Cryptocurrency

According to Mr. Hakimi, the country officials have also discussed Iran’s current position regarding the establishment of state-sponsored cryptocurrency. They believe that the national virtual currency doesn’t have a good list of successful results from all around the planet. However, some of the economic officials emphasize it, and as a result, the Informatics Services Corporation readies a model version, and other entities find themselves to consider it.

The official representation of Iran’s Supreme Cyberspace Council done by Saeed Mahdiyoun explained that Iran’s cyberspace authority is positively searching for the idea of introducing national cryptocurrency.

Now it is on the general public to decide the consequences of cryptocurrency ban abolishment in Iran and how large impact would this decision bring in deciding the future of crypto-world of Iran and for the country itself.

About the author

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Margi Brambhatt

Margi has done diploma in Mass Media & Journalism. She has previously worked as a freelance reporter for various famous Finance media platforms. When she is not writing or editing others reports, you can find her engulfed in reading books. She believes in reporting content which is 100% well researched.

You can also mail her at [email protected] to discuss anything related to her reports.

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