The Iranian Importers Association stressed the importance of using cryptocurrencies to pay for imports, but this requires a stable regulatory framework.
Alireza Managhebi, Chairman of the Importers Association of Iran, expressed concern about the regulation of the crypto industry in the country. According to him, for the successful use of cryptocurrencies as a means of payment for imports, it is necessary to create a stable regulatory framework.
“The main question is whether the Iranian government will provide fixed rules for the use of cryptocurrencies that will not change for several months, and whether businesses operating in the digital sphere will suffer,” Managebi said.
He noted that the Iranian authorities plan to actively use cryptocurrencies in foreign trade, namely to pay for imports. However, this will not end the dominance of the dollar in the country, as both the dollar and cryptocurrencies perform their functions in the Iranian market.
According to Managebi, by the end of September, the use of digital currencies and smart contracts will be widespread in foreign trade with target countries. At the same time, Managebi did not specify how it is possible to develop stable rules for the entire infrastructure in such a short time.
According to the chairman, in order for cryptocurrencies to firmly and safely enter the country’s trading system, it is necessary to constantly educate people on their use, starting from the very basics.
Recall that at the beginning of the month, Iran tested the possibility of carrying out foreign trade activities using digital assets, bypassing the global financial system, limited by US sanctions.
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
