Hassan Maishera
TL;DR
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The Iranian government is planning to regulate cryptocurrencies instead of imposing limits.
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The country’s finance minister said the government intends to leverage the positive effects of the crypto market in Iran.
Iran Moves to Regulate Crypto
Iranian Minister of Economic Affairs and Finance Abdolnaser Hemmati has revealed that the government is considering regulating cryptocurrencies instead of outright restricting them.
In a report by Iran’s state-run news agency Nour News, Hemmati made this statement during a national event on Saturday. He stated that the government aims to eliminate cryptocurrency's negative impacts on the economy and leverage its positive effects.
Hemmati further pointed out that digital money falls under the jurisdiction of the Iranian central bank. The minister also said he hoped cryptocurrencies would be used to boost youth employment in the country, help counter U.S. sanctions, and align Iran’s activities with the global economy.
His speech comes on the same day the country’s apex bank published a new document summarizing its arrangement for upcoming policies on cryptocurrencies. The policies will support cryptocurrency traders in the country to comply with local tax and AML laws.
Iran is one of the leading cryptocurrency countries in the Middle East, with Iranian investors holding an estimated $30 billion to $50 billion worth of crypto assets.
