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Iran President Gives Orders To Move Forward On Crypto Regulation

Iran’s president gives orders to move forward on crypto regulation. Hassan Rouhani highlighted the education of society about the market as the top priority.

In the last hours, Iran has been listed among the countries that seek to regulate bitcoin (BTC), after the global boost that its transformation into legal tender in El Salvador meant . Hassan Rouhani , president of the Asian country, gathered his Cabinet and asked them to draw up regulations to control the leading cryptocurrency market and cryptocurrency trading .

A few weeks ago, the Iranian government announced that BTC mining would be suspended until September (when winter ends in the region), due to repeated power outages generated by the activity. However, the medium-term objective is to control the ecosystem in the country , since even the president himself recognizes its advantages when it comes to thinking about his finances outside the US blockades.

Rouhani asked his Economic Coordination Council team to address the “legal and technical requirements” of the activity , and draw guidelines on BTC and all digital assets. The main priority, according to the president, is “to preserve and protect the national interests of the country against the expansion experienced by digital assets . “

“To legalize the activity of cryptocurrencies and protect the capital of the people in this field , we must think of a solution as soon as possible and establish and communicate the necessary laws and instructions ,” Rouhani added .

The leader did not specify what policies could be implemented in the country, although global experience suggests audits of banks that operate with cryptocurrencies, restrictions on foreign exchanges or maximum thresholds for trading volumes. Anyway, what was clear is that it will seek to generate ” more crypto awareness ” among society .

Regarding the latter, the role of local regulatory bodies and the media will be essential so that all Iranians who intend to get involved in the market , do so knowing the risks involved. ” The responsible bodies in the field of capital markets must cooperate with the media , and cyberspace, in the field of information, education and public awareness about this phenomenon, their instructions and laws,” said the president .

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