Bypass economic sanctions? Iran Allows Businesses To Pay Worldwide With Cryptocurrency

To avoid US financial sanctions, Iran has expanded its use of cryptocurrencies. Alireza Peyman-Pak, director of the Iranian Trade Promotion Agency, said the Central Bank of Iran (CBI) and the Ministry of Industry, Mines and Trade reached an agreement to bind the platform from cryptocurrency to the trading joint venture that enables trading. paid with cryptocurrency. foreign manufacturers.

According to foreign media reports, the Iranian government is preparing to allow the use of cryptocurrencies for international payments, while banking and government officials have agreed to use crypto clearing mechanisms in foreign trade. Alireza Peyman-Pak said, "We have finally decided how the system will work," "This will open up new opportunities for cryptocurrency exporters and suppliers to the market. All over the world."

Moreover, Iran is moving very fast, with the Commerce Ministry planning to finish in two weeks to put local mining and private companies on the path to success.

Alireza Peyman-Pak said that in the case of Iran, if the use of cryptocurrencies and blockchain systems could be extended, it would be good support for the Iranian economy, and if Iran did. ignored, it would lose its quality and its time to market. “Cryptocurrency will still be banned in neighboring countries like Iraq, Afghanistan or Pakistan, but the adoption of cryptocurrency is available in major markets like Russia, China, India and Southeast Asia. "

Statistics show that 12 million Iranians in Iran now have at least one cryptocurrency. Iran authorized mining in 2019. Iranian cryptocurrency sites have great potential for improvement compared to other countries. The government does not restrict the law, but changes the medium. We only impose restrictions in winter and summer when electricity is not enough. movement.