Government of Iran is getting ready to start using bitcoin inside the country
Almaty. November 1. Silkroadnews – Government of Iran is getting ready to start using bitcoin inside the country, the Iranian Telegraph Agency (IrTAG) reports referring to the information portal Bitcoin News.
“The Iranian government has been conducting research into the economic and infrastructural aspects of preparing for bitcoin use in its country. According to the ministry of information technology, “arrangements are being made” to put together the infrastructure for the digital currency “as early as possible”,” the report said.
According to Deputy Minister of Information and Communication Technologies Amir Hossein Davaee, the ministry has already conducted a number of research studies preparing the infrastructure for use of bitcoins inside the country.
Although the Iranian central bank considers the business using bitcoins as “not legal”, the government has not passed a law prohibiting use of bitcoins as a method of payment and, even more, works on the proposed regulations for use of digital currencies.
Reportedly, the residents of Iran rely mainly on Localbitcoins, as well as the Australian Coinava, which ensures the interaction of buyers and sellers in Iran without direct purchase or sale of bitcoins. In addition, Iran’s Bitcoin group on Facebook is active with more than 29,000 members.
While many companies in Iran use bitcoin, they fear the related tax laws and prefer to remain anonymous.
According to the Iranian economist Morteza Imani-Rad, bitcoin cannot have a significant impact on the economy of Iran.
“This money is not legal in Iran and bitcoin transactions are not legal and legally unrecognizable, so we do not expect them to have any effect on the Iranian economy,” he said.
In his opinion, market capitalization of bitcoin was too small to facilitate the purchase and sale of international oil contracts.