Cryptocurrency could be used to import electronic devices, says Shahab Javanmardi, a member of the Iran Chamber of Commerce Industries Mining and Agriculture, noting that a change in government approach is necessary for such deals.
"Repatriating revenue from exporting gas and electricity is not possible under the present [US sanctions]. The government can promote use of excess electricity output or power generated by small-scale plants to mine cryptocurrencies and make up for the locked resources," Eximnews quoted him as saying.
He proposed creating a central market, like the secondary forex market, through which cryptocurrency would be sold to local companies wanting to import machinery and goods.
Javanmardi, who is CEO of FANAP Company, a well-known provider of financial solutions, believes that the money raised from selling cryptocurrencies could be used for importing electronics.
Add new comment