The Iranian High Council of Cyberspace (HCC) has announced that it will welcome Bitcoin, while expressing some reservations. It is worth noting that earlier this month the Iranian government already stated it was favorable to Bitcoin. According to the Iranian newspaper Financial Tribune, Abolhassan Firouzabadi, secretary of the HCC, said: “We willingly accept Bitcoin, but we must have regulations for Bitcoin and any other cryptocurrency […] following the rules is a must.”
Cryptocurrencies used in Iran despite lack of regulatory framework
Although a specific regulatory framework for cryptocurrencies has not yet been established in Iran, Bitcoin is already being used in the country for payments, trade, mining and a variety of other activities, Firouzabadi added. However, the HCC secretary warned: “Control and oversight mechanisms for the supply of cryptocurrencies are being implemented through collaboration between the central bank and related entities, but people must be aware of the risks and dangers on the demand side.”
Central Bank of Iran remains undecided
While the central bank has not yet taken a definitive stance on Bitcoin, the HCC secretary confirmed that “this will be clarified soon.” Firouzabadi also noted that the HCC and the Central Bank of Iran have already collaborated on studying digital currencies following the recent price surge, and that this process will continue. Two weeks ago, Naser Hakimi, deputy director of new technologies at the Central Bank of Iran, warned the public about the “uncertainty” surrounding Bitcoin and other cryptocurrencies, cautioning investors that they risk putting their capital in jeopardy by speculating on crypto assets.