Iran’s importers association has called for stable regulations for cryptocurrency now that the Iranian government uses crypto to pay imports. A government official stated that smart contracts and cryptocurrencies will soon be used in international trade with countries targeted by the Iranian government.
Local media reported that Alireza Managhebi (chairman of Iran’s Importers Group and Representatives of Foreign Companies) expressed concern about Saturday’s country’s crypto regulation.
For cryptocurrencies to be used successfully as a payment method for imports, a stable regulatory framework must be created. Managhebi noted that crypto could be helpful in this regard if there is the right regulatory infrastructure.
We are concerned that the new method is not exploited by others.
He stated that the main question is “Whether the Iranian government has established fixed rules for cryptocurrency use that will not change over the next several months and businesses in this digital area will not be affected.”
Managhebi pointed out that the Iranian government recently declared the use of cryptocurrency as a payment method for imports. He clarified however that the claim that it would instantly end Iran’s dominance of the dollar is not true, as both the dollar (and cryptocurrency) have their place in the Iranian market.
Officials of the association opined that:
It is essential to train and educate people in Iran to use the new technology.
Alireza Peymanpak, vice-minister of Iran’s Ministry of Industry, Mine and Trade and President of the country’s Trade Promotion Organization, (TPO), stated earlier this month that the first official order for cryptocurrency import was placed. He said that smart contracts and cryptocurrencies will soon be common in foreign trade with countries targeted by them “by the end of September.”