Iran Now Allows Banks, Exchanges to Use Crypto for Imports
CoinEdition
Published Apr 27, 2021 05:46AM ET
Updated Apr 27, 2021 06:00AM ET
Iran Now Allows Banks, Exchanges to Use Crypto for Imports
- Iran now allows banks and foreign exchanges to use crypto to pay for the imports.
- They will create a bill to provide regulatory clarity regarding crypto-related activities.
- Authorities took over 45,000 machines due to illegally using subsidized electricity.
The Central Bank of Iran (CBI) has announced that it will now allow banks and exchanges to use crypto to pay for imports. To clarify, they can use only the crypto mined by licensed miners in the said country. Meanwhile, they will create a bill to give regulatory clarity about crypto activities.
The statement included:
“The central bank states that lenders and licensed currency exchange offices have been notified about the regulatory framework for crypto payment.”
In October 2020, the Iranian court grew its cry...
This article was first published on coinquora.com
Continue reading on CoinQuora
Get The News You Want
Written By: CoinEdition
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.