Iran Blockchain Association offers help with crypto regulations, says that regulatory authorities are not qualified-regulation
Iran Blockchain Association offers help with crypto regulations, says that regulatory authorities are not qualified-regulation
The leading association of the crypto industry in Iran criticized the authorities for their passive attitude for cryptor regulation. The inactivity of the government gives rise to concern, the organization said and offers regulatory authorities their support, which in their opinion is not sufficiently qualified to solve the complex problem.
Blockchain Association suggests public-private partnership for crypta rules in Iran
Tehran authorities such as the central bank of Iran ( cbi ), according to the head of the Iran Blockchain Association, are unable to regulate cryptocurrencies ( iba ). The main organization of the country, which represents members of the crypto sector, called for the establishment of an "independent lawyer" to take over the position. During a press conference this week, the head of the IBA, Abbas Ashtiani:
We need special advice from representatives of state agencies and private companies to develop regulations for cryptocurrencies. The CBI or the security and stock exchange organization are not qualified [Enough] in view of the multidimensionality of the problem.
The crypto room of Iran remains largely unregulated. In April, the central bank Authorized domestic banks and money changers To use to pay imports into the sanctioned nation, but the authorities pursued other digital coin trade and crypto payments are prohibited within the country.
The mining of cryptocurrencies is the most regulated sector since Tehran recognized it as a legal industrial activity in 2019. Mining companies have to obtain a license from the Ministry of Industry in order to work in the Islamic Republic, and around 50 companies have already done so, as official data showed at the beginning of this year. According to a ban imposed by the General Prosecutor's Office, the ministry is no longer accepting new applications.
According to the IBA, the Iranian government has no plan to regulate the crypto compartment
"The growing interest in mining and cryptoandel has caused the authorities to create a timetable for the crypto business. But that doesn't seem to go far enough," said the English-language business newspaper Financial Tribune in its report on the IBA proposal. The publication quotes experts who claim that the topic is more complex than other regulatory challenges, and therefore the institutes have held back to take responsibility for the regulation
Ashtiani criticized the executive violence in Tehran and warned that their inactivity in relation to cryptocurrencies gave rise to concern. He also noticed that the former government had plans to regulate the space, but these were never realized and criticized the government of the recently elected President Ebrahim Raisi because it had no plan at all. The entire crypto matter is so far below the do list that "we still have no meeting with politics and decision-makers," he revealed.
In relation to the concerns expressed by civil servants regarding illegal activities related to the characteristics and the exchange of cryptocurrencies, Ashtiani emphasized that the Iran Blockchain Association understood the political decision -makers and assured that "their reservations can and will be cleared out". The head of the IBA also insisted on it:
We are ready to help the rules to be determined that can help to ensure a positive influence of cryptos on the economy and at the same time minimize crime.
According to industry observers, the lack of sufficient knowledge and awareness is the reason for the government's concern about growth Popularity of crypto-assets who have attracted capital of the traditional markets of Iran. However, some officials already have Restrictive politics warns that they drive innovative solutions into the underground can.
"This happened on the Iranian cryptocurrency market. Our studies show that 50% of crypto activities take place in the informal market. At the same time, supportive regulations could improve the contribution of the digital currency to the economy", Gholamreza Marhaba, spokesman for the parliamentary economic commission, was cited.
Do you believe that the Iranian authorities will be issued at some point crypto -friendly regulations? Share your expectations in the comment area below.
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