Iran’s association of importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government is officially using 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,” a government official said.
Iran imports association: Iran requires stable cryptocurrency regulation
Alireza Managhebi, the chairman of Iran’s Importers Group and Representatives of Foreign Companies (Imports Association), voiced concerns about the country’s crypto regulation Saturday, local media reported.
For cryptocurrencies to become a viable payment method for imports, a solid regulatory environment must be created. Managhebi stated that crypto could be used in this way if there is the correct regulatory infrastructure.
The most significant concern for us is the inability of some individuals to exploit this method.
“The main question is whether the Iranian government has provided 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 pointed out that Iran’s government recently declared the use of cryptocurrency as a payment method for imports. But, Managhebi clarified that the claims of an immediate end to the dominance by the dollar in Iran were not accurate as cryptocurrency and the dollar have their respective places on the Iranian markets.
Officials of the association opined that:
This technology is essential in Iran. It’s also vital to train and educate people.
Earlier this month, Alireza Peymanpak, vice minister of Iran’s Ministry of Industry, Mine and Trade and president of the country’s Trade Promotion Organization (TPO), said the first official import order was successfully 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.
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