Iran Association Calls For Stable Crypto Regulation As Government Plans For Wider Use Of Crypto For Foreign Trade

The Iranian Importers Association has stressed the need for a stable regulatory framework for cryptocurrencies as the Iranian government is currently using crypto to pay for imports. A government official said, “By the end of September, cryptocurrencies and smart contracts will be used and expanded in foreign trade with targeted countries.”

Import Association: Iran Needs Stable Crypto Regulation

Alireza Managhibi, Chairman of Iran Importers Cluster and Representatives of Foreign Corporations (Importers Association), commented on the working day of the country’s crypto regulation.

He stressed that a stable regulatory framework should be established for cryptocurrencies to be used as a means of payment for imports. In this regard, noting that crypto can be useful under the right restrictive infrastructure, Managbi said:

Our main and most important concern is that this new method will not be used by some individuals.

“The main question is whether or not the Iranian government will issue strict laws to employ cryptocurrencies that will not be amended for several months, and in the meantime businesses operating in this digital field will not be affected,” he said cautiously.

Managhibi announced that the government of the Islamic Republic of Iran has recently started officially using cryptocurrency to pay for revenues. However, the claim that this could end the dominance of the dollar in the Islamic Republic of Iran in real time is not very accurate because every dollar and cryptocurrency has its place in the Iranian market.

The head of the association made the following comments.

It is absolutely necessary to educate and train them to use this new technology in the Islamic Republic of Iran.

Earlier this month, Alireza Paymanpak, deputy minister of Iran’s Ministry of Commerce, Mines and Trade and president of the country’s Trade Promotion Organization (TPO), said the main official import order was a success placed with the cryptocurrency. “By the end of September, cryptocurrencies and smart contracts will be widely used in foreign trade with the target countries,” he added.

The post Iran Association Calls for Stable Crypto Regulation Plans to Widely Use Crypto for Foreign Trade appeared first on BTC Wires.

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