Iran Planning Infrastructure for Bitcoin Adoption

0
237

Iran announced that the government intends to carry out a new infrastructure for bitcoin users in the nation.

MAKE SURE TO FOLLOW US ON TWITTER: @BLCKCHAINDAILY

“The ministry of communications and information technology has already conducted a number of research studies as part of efforts to prepare the infrastructure to use Bitcoin inside the country,” said Amir Hossein Davaee, Iran’s Deputy Minister of Information and Communication Technology.

RELATED: The Chicago Mercantile Exchange (CME) announced Tuesday that it intends to commence bitcoin futures in the fourth quarter, awaiting regulatory approval.

The country is still under international sanctions that influence many monetary sectors including shipping, energy, and finance.

International sanctions have terminated the ability for citizens of Iran to utilize online payment platforms including PayPal, Venmo, and Braintree.

Decentralized currency like bitcoin which cannot be regulated by a central bank would be a way for the government of Iran to overcome the sanctions.

Davaee added that the Central Bank of Iran would supervise transactions and set the ground rules for transactions made using cryptocurrencies.

CLICK HERE FOR MORE BLOCKCHAIN NEWS

Donate BTC: 13xyfdE1ERCu6ZaZ6Ejj7x6B7au8GJXont
Donate LTC: LeVDY175o9B5PZJzPihAAFqCVcFHRaiVsB
Donate ETH: 0x3930890DC36E40e17c280aF5A80cEAC30732cFB9

Leave a Reply