Four main policies will be announced by the end of the month, the deputy director of innovative technologies declared. Naser Hakimi stated that a set of digital currency regulations is to be presented by the end of September.
Addressing a blockchain and cryptocurrency conference in Tehran, The central banker, Naser Hakimi said that CBI is studying four policies as part of its upcoming regulatory framework due by late September, Mehr news agency reported. He also pointed at cryptocurrency mining during his speech and said that this is an important industrial area to consider for regulation.
The informatics services corporation has prepared a trial model for Iran’s state-backed cryptocurrency, which needs the central bank’s approval before being used in the payment domain.
Hakimi cited that cryptocurrencies can be a reliable solution for overwhelming the problems caused by the sanctions imposed on Iran. He also mentioned that banks from all over the world have prioritized monitoring the events of this field.
Blockchain technology can exclude third parties and revolutionize trades and clearly influence the financial transaction network. Accepting and employing cryptocurrencies in financial transactions should receive simultaneous attention, Hakimi said citing that limiting this area can abstain cryptocurrencies from replacing current currencies.
The managing director of informatics services, Aboutaleb Najafi also talked about the importance of considering blockchain applications, analyzing the technology in the coming decade, its implementation and regulation.
An official in the Central Bank has also talked about the opportunities and threats that blockchain technology can bring to the banking industry: According to the principles at the Central Bank of Iran, it is necessary to find out what policy it will hold against digital currencies, Davood MohammadBeigi says.
The central bank has previously prohibited banks and financial institutions from dealing with cryptocurrencies such as Bitcoin due to money laundering concerns. MohammadBeigi maintains that it was a rash resolution and that the officials at the central bank of Iran should regard a new policy, considering the knowledge that has been shaped in this regard within the country.
Morteza Tork Tabrizi who is the IT manager at Mellat bank of Iran has addressed the banking network strategy concerning digital currencies and blockchain technology.
Mellat bank is trying to train proficient actors in the banking network to utilize blockchain technology and offer products in the KYC sector.
The deputy director in charge of drafting at the National Cyberspace Center, Saeed Mahdiyoun, has also stressed on how the blockchain technology is expected to facilitate the transfer of money anywhere in the world.