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Iran’s Cyberspace Authority Says It Welcomes Bitcoin but with Conditions



Iran’s High Council of Cyberspace (HCC) announced it “welcomes” bitcoin, under several conditions.

According to a report from Iran, the secretary of the country’s cyberspace authority Abolhassan Firouzabadi, said:

“We welcome bitcoin, but we must have regulations for bitcoin and any other digital currency … following the rules is a must.”

Despite no particular regulations for cryptocurrencies in Iran so far, bitcoin is utilized in the country for payments and trading.

It’s also used for mining and various other businesses, Firouzabadi added.

However, the HCC secretary warned:

“Mechanisms of control and supervision over the supply of cryptocurrencies are being implemented through the collaboration of the central bank and related entities, but the people must be aware of their risks and dangers on the demand side.”

While the Central Bank of Iran (CBI) has yet to come up with a definite stance on bitcoin, that will soon be clarified.

CBI has six documents on fintechs and cryptocurrencies that will be revealed by March 2019.

Two of them, dealing with payment initiators and payment facilitators, have already been publicized.

A third covering micropayments and related technologies in fintech will be announced in the next few weeks.

The last document deals with cryptocurrencies.

That will be unwrapped by the sixth month of the next fiscal year ends in September 2018.

As CBI has announced, it will be a regulatory framework instead of clear-cut regulations.

Firouzabadi also revealed that the HCC and the CBI have already partnered in the study of digital currencies.

This comes after the recent price surge, and that that procedure would continue.

Just two weeks ago, CBI’s deputy director of new technologies, Naser Hakimi, cautioned the public on the “uncertainty” surrounding bitcoin.

He warned investors that they are placing their capital at risk.

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