Iran Will Not Allow Crypto Payments, Prepares to Pilot Digital Rial – Finance Bitcoin News - BitcoinEthereumNews.com
Iran will not recognize cryptocurrencies as a means of payment, a high-ranking government official has indicated. His statement came as the Central Bank of Iran anounced rules for the issuance of digital coins in the country. These are meant, however, for its own “crypto rial,” the pilot phase of which should start in the near future. Accepting Cryptocurrency for Payments Is a Red Line, Iranian Minister Says Cryptocurrencies like bitcoin will not be treated as legal tender in the Islamic Republic of Iran. Discussing regulatory matters related to the storage and exchange of cryptocurrencies, Irans deputy minister of communications, Reza Bagheri Asl, emphasized: We do not recognize payments with cryptocurrencies. The government official was commenting on the latest resolution by the Digital Economy Working Group regarding crypto assets. He pointed out that the use of any foreign currency is outside the sovereignty and against the monetary and banking law of Iran. “So, we will by no means have any regulations recognizing payments with cryptocurrencies that do not belong to us,” Bagheri Asl elaborated, quoted by the Iranian financial news portal Way2pay. “Iran has its own national cryptocurrency, so no payments will be made with non-national cryptocurrencies,” he insisted. The deputy minister added that in order