Discussions on crypto regulation in Iran seem to gain momentum

Iranian legislators insist on that BTC and other cryptos should be taken seriously by the central bank as a new class of asset.

Negotiations on crypto regulation are gaining traction.

The Iranian lawmakers seem to intensify crypto regulation as new local media reports claim that local media urge their colleagues to consider the potential of Bitcoin.

Tabriz representative Mohammed Hossein Farhangi addressed the Iranian parliament on Tuesday and asked the central bank manager Abdolnazer Hemmati “to treat the issue of crypto currencies seriously”, adding that “this may become a good opportunity for the country, otherwise it poses a problem for financial lending institutions”.

Farhagi further noted that digital currencies fall under the regulation of central bank, not the Industry Committee the official is working for. This is not the first case Iran is going for crypto industry. President Hasan Ruhani initiated the launch of national strategy for crypto development that was legitimized in August, 2019.

The call for more detailed consideration follows the same steps taken by lawmakers in other countries. China, USA and a number of European countries have tried to reconsider the technology of blockchain and cryptos, especially with the advent of stable coins and Facebook Libra.

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