One of the most preferred investment options for Iranians is cryptocurrency. The number of people who have at least one cryptocurrency is likely to exceed 12 million. According to one trader, most Iranian traders prefer local crypto exchange services over traditional ones.
Claim That They Send 180 Million US Dollars Every day
Although most of the crypto industry does not have appropriate rules or government position on this matter, Iran has been investing more in cryptocurrency over the past few years. Decentralized digital currency. “It is estimate between 7-12 million Iranians own cryptocurrency,” Hamed Mirzaei (CEO of Bitestan), one of Iran’s cryptocurrency exchanges, said.
“Iran’s crypto transactions per day estimate to range from 30 to 50 trillion Rial (US$181 million). Each cryptocurrency transaction is unregulated.
More Than 88% Of Local Trade Transactions Occur
Mirzaioutlining it. The sum of all capital markets transactions is actually higher. The Islamic Republic. The blockchain entrepreneur also told Iranian media that it believes that approximately 7 to 12 million Iranians own cryptocurrency.
Mirzaei made these comments after Iranian officials expressed concern that crypto assets could withdraw funds from the traditional market earlier this year. In May, the digital assets currency trading platform had been accused of taking advantage of the volatility in the stock exchange.
Trading volumes have dropped sharply since last summer due to these allegations. The Central Bank of Iran advised Iranians to refrain from using cryptocurrency and warned them about the risks involved.
Recently, the parliamentary leadership requested that the National Revenue Service profile and report on Iranian cryptocurrency exchange owners. Mohammad Baqer Qalibaf (Parlament spokesperson) stated that prohibiting cryptocurrency transactions was insufficient and asked the CBI to create proper regulations for this industry. The Islamic Consultative Conference members proposed a bill to pass foreign exchange market regulations in July.
Iran’s financial technology companies should restrict transactions. This warning comes after the government expressed its opposition to cryptocurrencies. This year to curtail cryptocurrency exchange operations.
CBI approved domestic banks and money changers to use local cryptocurrencies to pay import fees. The authorities also authorized Shiba Inu coin transactions or others.
The startup insists that crypto transactions do not constitute illegality and asks regulators and legislators for rules to allow sanctioned nations to enjoy decentralized remittances.
Do you think that the Iranian authorities will change how they view these cryptocurrencies’ investment and trading?