Iran wants to accept international Bitcoin and cryptocurrency payments

Bypass the US blockade – The relationship between Bitcoin (BTC) and Iran has always been rocky, with highs and lows in crypto mining in particular. But the country’s economic interests seem to outweigh its reluctance, since the Iranian regime finally seems to want to legalize payments and exchanges via crypto-assets.

Cryptos recognized as a means of international payments

Sometimes from week to week, like in May 2021, theIran might as well threaten to cage Bitcoin and cryptos to try to control them completely, than to use them to bypass US embargo measures.

This time, the Iranian regime seems to be leaning sharply in favor of 2nd way quoted above. According to a publication by Iran’s Mehr news agency, Alireza Payman Pak, the head ofIranian Trade Development Organization announced that the cryptocurrency ecosystem will soon be connect to the country’s international trade system.

“What we have agreed with the Central Bank [iranienne], it is the use of blockchain and cryptocurrency systems in the international trading environment. (…) Cryptocurrencies can be a means of transferring payment from the exporter to the importer of goods. “

Alireza Peyman Pak, Iranian Deputy Minister for Industry and Trade

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Everything is good for trade without embargo

For fear of “Miss business opportunities »Deputy Minister Pak urges all economic players to use cryptocurrencies, such as “Guarantee” to succeed in the exchanges. Especially for Iranian small and medium enterprises working abroad, but not only.

“All economic actors can use these cryptocurrencies. The trader takes the ruble, the rupee, the dollar and the euro somewhere, which he can use to obtain cryptocurrencies like for example Bitcoin (…) and can transmit it to the seller or to the importer. (…) Our economic actors can easily and widely use [le marché des cryptos] “

Alireza Peyman Pak, Iranian Deputy Minister for Industry and Trade

No date On the other hand, was not specified when this future use of cryptocurrencies to trade internationally and import goods. The proposal would always be under study feasibility with the country’s central bank.

Will the attraction of regaining international trade be enough to bend traditional banks in Iran? In any case, with the example of El Salvador, we have seen that the only thing necessary to adopt a crypto-economy is simply to have political courage.

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