• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Tuesday, January 31, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

Iran Impart Association Calls For Regulatory Clarity About Crypto In Foreign Trade

August 24, 2022
in Bitcoin
Reading Time: 3 mins read
A A
ShareShareShareShareShare

Related articles

Regulators Seek Crypto Blood, They Shatter Annual Record With 58 Legal Actions

January 31, 2023

Tesla saw $204m loss with bitcoin last year

January 31, 2023

Iran’s association of importers have now called for regulatory framework for cryptocurrency. This is after the Iranian government has officially used crypto to pay for the imports. In order to continue paying for imports with digital asset a regulation needs to mandated.

The head of Iran’s Importers Group and Representatives of Foreign Companies (Import Association) Alireza Managhebi, has been emphasizing on the need for concrete and stable regulation.

It is a much required practice which has to be given its due importance if Iran were to continue digital asset payments for the imports.

A government official quoted,

By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries.

Managhebi mentioned that digital assets could become extremely useful if received a right regulatory infrastructure, he further stated,

The question is, has the government developed consistent regulations for the cryptocurrency uses so that they will not change within two months and the businessmen active in this field will not be harmed?

Possible Threat If Crypto Payments Continue For Iran Imports

Managhebi also was of the belief and expressed certain doubts that the official digital asset usage for imports can soon end the dollar dominance in the Iranian market. This could bring in a possible threat that the new crypto payment method could lead to the beginning of rent-seeking business groups.

The association mentioned,

It is absolutely necessary to educate and train people to use this new technology in Iran as well as have stable regulations in this regard

Earlier in this month, Iran had placed the first international import order with the help of $10 million worth of cryptocurrency.

The details about the deal has not been disclosed by the officials that involved the amount of digital asset used or even the amount of imported goods involved. It was mentioned that $10 million order had represented the first of many such international trades that shall be conducted with the help of cryptocurrency.

Iran Is Gearing Up For End Of September

Iran had plans of embracing digital asset ever since 2017. In October 2020, it had amended previously issued legislation which would be allowing cryptocurrency to be used to carrying out imports.

Last year June, the Iranian Trade Ministry has issued 30 operating licenses to Irani miners to mine cryptocurrencies which was supposed to sold to Iran’s central bank.

The nation is now using these mined coin for the payments related to imports. Iran is supposedly expecting that by the end of September, the use of digital asset and also smart contracts shall be adopted and will be widespread in trade with target countries.

In other developments related to Iran and its attempt to regulate the industry, authorities in Iran have continued to seize illegal mining rigs in Tehran over the past few months.

Bitcoin was priced at $21,600 on the four hour chart | Source: BTCUSD on TradingView

Credit: Source link

ShareTweetSendPinShare
Previous Post

SEC Chairman Says Crypto Should Be Treated Same as Other Capital Markets – Regulation Bitcoin News

Next Post

A Primer on EU Stablecoin Regulations

Related Posts

Regulators Seek Crypto Blood, They Shatter Annual Record With 58 Legal Actions

January 31, 2023

In the last year, many have claimed the crypto industry is under attack by U.S. regulators and recent data supports...

Tesla saw $204m loss with bitcoin last year

January 31, 2023

According to a U.S. Security and Exchange Commission filing, Tesla made a $204 million loss in gross impairment in 2022...

Bitcoin Kills Rent Seeking – Bitcoin Magazine

January 31, 2023

This is an opinion editorial by Jimmy Song, a Bitcoin developer, educator and entrepreneur and programmer with over 20 years...

Alameda Research Seeks $446 Million Over Alleged ‘Preferential Transfers’ to Voyager Digital – Bitcoin News

January 31, 2023

On Monday, Alameda Research Ltd. filed a legal complaint against Voyager Digital LLC and HTC Trading Inc. in the U.S....

Interest in bitcoin surged by 82% in 2022 despite crypto winter 

January 31, 2023

The findings of a new study by deVere Group reveal that 82% of high net-worth (HNW) individuals asked their financial...

Load More
Next Post

A Primer on EU Stablecoin Regulations

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Shiba Inu’s Shibarium Will ‘Burn’ SHIB Tokens After Launch

January 7, 2023

DOJ Shuts Down Bitzlato Crypto Exchange – Bitcoin Magazine

January 18, 2023

Live news: Crypto lender Nexo to pay US regulators $45mn over unregistered offering

January 19, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • Kazakhstan Seeks to Improve Cryptocurrency Trading Framework
  • Silvergate’s ties to FTX face renewed scrutiny from senators
  • Trevor Jones Takes EthBoy London’s Oxford Street

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$23,039.001.47%
  • ethereumEthereum(ETH)$1,581.131.16%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.000.04%
  • usd-coinUSD Coin(USDC)$0.99-1.08%
  • binancecoinBNB(BNB)$310.521.76%
  • rippleXRP(XRP)$0.4062373.29%
  • binance-usdBinance USD(BUSD)$1.00-0.24%
  • cardanoCardano(ADA)$0.3872894.39%
  • dogecoinDogecoin(DOGE)$0.0952999.68%
  • matic-networkPolygon(MATIC)$1.102.40%
  • okbOKB(OKB)$37.301.21%
  • solanaSolana(SOL)$23.930.83%
  • staked-etherLido Staked Ether(STETH)$1,574.351.16%
  • polkadotPolkadot(DOT)$6.231.09%
  • shiba-inuShiba Inu(SHIB)$0.0000122.46%
  • litecoinLitecoin(LTC)$93.243.24%
  • avalanche-2Avalanche(AVAX)$19.791.30%
  • tronTRON(TRX)$0.061845-0.45%
  • daiDai(DAI)$1.00-0.24%
  • uniswapUniswap(UNI)$6.551.65%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,915.001.12%
  • cosmosCosmos Hub(ATOM)$13.291.92%
  • chainlinkChainlink(LINK)$6.910.73%
  • ToncoinToncoin(TON)$2.260.37%
  • leo-tokenLEO Token(LEO)$3.52-1.88%
  • moneroMonero(XMR)$175.970.14%
  • ethereum-classicEthereum Classic(ETC)$21.541.55%
  • AptosAptos(APT)$16.87-1.43%
  • bitcoin-cashBitcoin Cash(BCH)$131.841.79%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • stellarStellar(XLM)$0.0902690.61%
  • apecoinApeCoin(APE)$5.810.91%
  • quant-networkQuant(QNT)$141.070.77%
  • crypto-com-chainCronos(CRO)$0.0788601.95%
  • nearNEAR Protocol(NEAR)$2.321.60%
  • filecoinFilecoin(FIL)$5.192.73%
  • lido-daoLido DAO(LDO)$2.186.75%
  • algorandAlgorand(ALGO)$0.2407650.79%
  • vechainVeChain(VET)$0.0230340.53%
  • internet-computerInternet Computer(ICP)$5.862.21%
  • hedera-hashgraphHedera(HBAR)$0.0642801.43%
  • fantomFantom(FTM)$0.5413.87%
  • decentralandDecentraland(MANA)$0.74-0.19%
  • axie-infinityAxie Infinity(AXS)$10.770.63%
  • aaveAave(AAVE)$82.301.95%
  • eosEOS(EOS)$1.061.35%
  • the-sandboxThe Sandbox(SAND)$0.721.07%
  • flowFlow(FLOW)$1.057.73%
  • elrond-erd-2MultiversX(EGLD)$42.782.29%