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Iranian Deputy Minister of Communications Reza Bagheri Asl said that the Iranian government has abandoned the idea of legalizing cryptocurrencies.
The official noted that the use of any foreign currencies and digital assets issued by third parties is contrary to Iran’s monetary policy and the laws governing banks. Therefore, the authorities are not going to allow citizens to pay with virtual currencies for goods and services.
In no case will we accept a decree on assigning the status of a legal means of payment to crypto-currencies that do not belong to us. Iran will create a national virtual currency [цифровой риал]respectively, payments in all other digital assets will remain prohibited, Asl said.
Reza Bagheri Asl
The Central Bank of Iran recently published a report on the digital rial. The document states that CBDC will be released on the blockchain with the function of creating smart contracts. The operation of the network will be controlled by state bodies, and the Central Bank will monitor the economic consequences of using the asset. Representatives of the Central Bank promise to launch testing of the digital rial in the near future.
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