Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of economics and cryptography.
Iranian Association Calls for Stable Crypto Regulation as Government Plans Widespread Use of Crypto in Foreign Trade – Regulation Bitcoin News
Iran’s Association of Importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government officially uses crypto to pay for imports. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” said a government official.
Import Association: Iran Needs Stable Crypto Regulation
Alireza Managhebi, chairman of the Iran Importers Group and Representatives of Foreign Companies (Import Association), expressed concern about the country’s crypto regulation on Saturday, local media reported.
He emphasized that a stable regulatory framework for cryptocurrencies should be established so that cryptocurrencies can be used as a means of payment for imports. Managhebi said crypto could be useful in this regard under the right regulatory infrastructure:
Our main and foremost concern is that this new method cannot be exploited by some people.
“The main question is whether the Iranian government has given fixed rules for the use of cryptocurrencies that will not change for several months, and in the meantime businesses active in this digital field will not be harmed,” he detailed.
Managhebi noted that the government of Iran recently announced the official use of cryptocurrency to pay for imports. However, he clarified that the claim that this would immediately end dollar dominance in Iran is not very accurate because both the dollar and cryptocurrency have their own places in the Iranian market.
The union official said:
It is absolutely necessary to educate and train people to use this new technology in Iran as well as have stable rules in this regard.
Earlier this month, Alireza Peymanpak, deputy minister of Iran’s Ministry of Industry, Mines and Trade and president of the country’s Trade Promotion Organization (TPO), said the first official import order was placed with cryptocurrency. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” he added.
What do you think about Iran using cryptocurrencies to pay for imports? Let us know in the comments section below.
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