{"id":51863,"date":"2022-08-30T12:15:43","date_gmt":"2022-08-30T10:15:43","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=51863"},"modified":"2022-08-30T12:15:43","modified_gmt":"2022-08-30T10:15:43","slug":"iran-receives-official-clearance-to-use-crypto-for-imports","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/iran-receives-official-clearance-to-use-crypto-for-imports\/","title":{"rendered":"Iran Receives Official Clearance to Use Crypto for Imports"},"content":{"rendered":"
In order to boost trade in the country, Iran’s trade ministry has approved the use of cryptocurrency payments for imports<\/strong>. It can also be a measure to circumvent US sanctions imposed on its finance and banking sector. <\/p>\n According to a local news report<\/a>, Iran’s Industry, Mines and Trade Minister, Reza Fatemi Amin,<\/strong> revealed that the Iranian government has approved a set of regulations for trading with cryptocurrencies. This comes on the heels after Iran made<\/a> its first official import order<\/strong> using cryptocurrency, earlier this month. The order that was around $10 million<\/strong> was made for the import of cars. Post the deal, Alireza Peymanpak<\/strong> from the Trade ministry assured,<\/p>\n “By the end of September, the use of cryptocurrencies and smart contracts will be widely used in foreign trade with target countries.”<\/em><\/p>\n <\/p>\n Interestingly, the development unfolded much sooner than September. The new regulation will allow the Iranian goverment to import of any goods to the country using cryptocurrency<\/strong>. Amin, specified that the regulation will entail all issues related to cryptocurrencies<\/strong>, including the process to grant licenses as well as the provision of fuel and energy to mining operators in the country. The minister noted,<\/p>\n “All the issues related to crypto-assets, including how to provide fuel and energy, and how to assign and grant licenses were devised.”<\/em><\/p>\n Recently, the United States had imposed a total economic embargo on Iran<\/strong>, including a ban on all imports including those from the country’s oil, banking and shipping sectors. The financial sanction on Iran was imposed over its nuclear program. The new move will enable Iran to circumvent these sanctions<\/strong> that has left the the country’s economy in ruins.<\/p>\n <\/p>\nImport any Goods Using Crypto<\/h2>\n
Crypto Mining in Iran<\/h2>\n