What's Hot

    First fundraiser for Doodles and new partnership

    June 25, 2022

    More than 50 crypto ATMs will be installed in Hispanic supermarkets in the United States

    June 25, 2022

    The bitcoin (BTC) invites itself in the programs of the University of Cincinnati

    June 25, 2022
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    THECRYPTNEWS
    • Home
    • News
    • Guides
    • NFT
    • Analysis
    THECRYPTNEWS
    Home » Iran: Companies can now use bitcoin (BTC) for international trade
    Analysis

    Iran: Companies can now use bitcoin (BTC) for international trade

    AdminBy AdminJanuary 14, 2022No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Central Bank of Iran (CBI) plans to allow the use of cryptocurrencies for international trade in the Middle Eastern country. According to a local report, the CBI has reached an agreement with the Iranian Ministry of Commerce to integrate crypto payments for Iranian businesses.

    Iranian forex market uses crypto

    According to report According to the Mehr news agency, the Iranian Ministry of Commerce has reached an agreement with the Central Bank of Iran with the aim of allowing the use of cryptocurrencies for international settlements. Iranian Deputy Minister of Industry and Trade and head of Iran’s Trade Promotion Organization Alireza Peyman-Pak noted that the deal is expected to be implemented within the next two weeks.

    The report quotes the official as saying:

    “We are fine-tuning the working mechanism of the system. This should provide new opportunities for importers and exporters, who will be able to opt for the use of cryptocurrencies in their international transactions. »

    Besides allowing the use of “private” cryptocurrencies, the Deputy Minister also revealed that the Central Bank is also working on a national cryptocurrency, a Central Bank Digital Currency (CBDC). He pointed out that crypto and blockchain technology has advantages that the country cannot ignore. Indeed, cryptocurrency is increasingly accepted and is not controlled by any entity. He pointed out that Iran’s trading partners, including Russia, China, India and Southeast Asia “commonly use cryptocurrencies”.

    “All economic actors can use these cryptocurrencies […] Since the cryptocurrency market is done on credit, our economic actors can easily use it and use it widely. », said Peyman-Pak

    Authorities continue to push back on cryptocurrency-related activities, but adoption among Iranians is growing

    In some ways, the Iranian government seems very supportive of cryptocurrencies. Iran has legalized the mining of bitcoins in 2019. The country has also implemented a policy that allows financial institutions to use bitcoins mined in the territory of the country for transactions.

    Besides, the adoption of digital assets has increased among the citizens of the country. According to a recent survey, up to 12 million Iranians hold various cryptocurrencies. Iranians have turned to cryptocurrency to help them fight against heavy sanctions from the United States that have affected their economy on several occasions and in many sectors.

    However, the cryptocurrency industry still faces challenges in the country. One of the main challenges is that there are no concrete regulations when it comes to cryptocurrency. This has affected both bitcoin miners and traders.

    the mining bitcoin has been banned twice in 2021 for hoarding energy for home use, as it is often blamed as the reason for many power shortages. The second ban which was imposed last month will last until March this year.

    Iran continues its interaction with cryptocurrency. Even though the country does not have clear and precise crypto regulations, officials are aware of current trends and try to keep up with developments in the crypto economy. Should we expect even more massive adoption of cryptocurrencies nationwide in this Middle Eastern country?

    Source: CoinGape

    Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential Cointribune!

    Salome Guerin

    If cryptocurrencies are synonymous with financial freedom, then they must play a key role in the financial emancipation of women. With the right education, crypto can be a powerful tool in waging the battle against gender inequality.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Admin
    • Website

    Related Posts

    More than 50 crypto ATMs will be installed in Hispanic supermarkets in the United States

    June 25, 2022

    The bitcoin (BTC) invites itself in the programs of the University of Cincinnati

    June 25, 2022

    Cardano (ADA) Founder Offers Crypto Self-Certification

    June 25, 2022

    Axie Infinity: The company behind the game wants to compensate the victims of the hack

    June 25, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts

    • First fundraiser for Doodles and new partnership
    • More than 50 crypto ATMs will be installed in Hispanic supermarkets in the United States
    • The bitcoin (BTC) invites itself in the programs of the University of Cincinnati
    • Cardano (ADA) Founder Offers Crypto Self-Certification
    • Axie Infinity: The company behind the game wants to compensate the victims of the hack

    Recent Comments

    No comments to show.

    Subscribe to Updates

    Get the latest sports news from THECRYPTNEWS.

    Advertisement

    Archives

    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021

    Categories

    • Analysis
    • Guides
    • News
    • NFT

    The leader in news and information on cryptocurrency, digital assets and the future of money, THECRYPTNEWS is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
    We're social. Connect with us:

    Facebook Twitter Instagram Pinterest YouTube WhatsApp Reddit
    Top Insights

    First fundraiser for Doodles and new partnership

    June 25, 2022

    More than 50 crypto ATMs will be installed in Hispanic supermarkets in the United States

    June 25, 2022

    The bitcoin (BTC) invites itself in the programs of the University of Cincinnati

    June 25, 2022
    Get Informed

    Subscribe to Updates

    Get the latest creative news from THECRYPTNEWS

    Facebook Twitter Instagram Pinterest
    • Home
    Copyright © 2021 Thecryptnews.com

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
    Cookie SettingsAccept All
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT

    DMCA - Terms and Conditions - Privacy Policy