Iran uses crypto on international foreign trade

Iran has sanctioned to use of crypto payments in foreign trade, but now the corporate entities ask the government to come up with stable regulations. The head of Iran’s Importers Group and Representatives of Foreign Companies (Import Association), Alireza Managhebi is the voice behind this concern and said that this would be necessary for import-export international relations. 

He said that this would not end the presence of the dollar in the Iranian market, it will be just another payment option. On 10th August, Iran started crypto-based international trade worth $10 million and has planned to utilize cryptocurrencies from early 2017. The government has issued licenses to Irani miners to promote mining, which can be sold to the central bank.