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Iran's Central Bank has introduced a regulatory framework for the cryptocurrency sector, aiming to balance oversight with economic growth. The framework includes licensing for brokers and custodians, compliance with anti-money laundering laws, and collaboration with the Ministry of Finance to foster innovation and support economic development.The government seeks to leverage digital assets for job creation and international trade, particularly in light of economic sanctions. By aligning with international standards and promoting transparency, Iran hopes to attract investment and mitigate the impact of financial restrictions.
Iran is shifting from restricting to regulating cryptocurrencies to mitigate the economic impacts of U.S. sanctions. The Central Bank of Iran will oversee the new regulatory framework, which includes licensing for crypto brokers and aims to enhance economic benefits while ensuring compliance with anti-money laundering and tax laws. This move aligns with a global trend, as other sanctioned nations like Russia also adopt crypto regulations for international trade.
Mohammadreza Farzin
People
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Iran establishes crypto regulations to boost economic growth and innovation
13:06 09.12.2024
Iran shifts from crypto restrictions to regulation amid economic sanctions
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08:18 09.12.2024
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