Business And Markets

CBI Says Creating Crypto-Rial

CBI Says Creating Crypto-Rial
CBI Says Creating Crypto-Rial

The Central Bank of Iran has informed banks and credit institutions about regulations related to the crypto-rial, as a central bank digital currency (CBDC). 
The rules, seen by, contain details about minting and distributing the digital currency. It is stipulated that the CBI will mint the crypto-rial and alone decide the maximum supply of such currency.
According to the website, the digital currency is to be minted in a distributed ledger system, consisting of authorized financial institutions and capable of implementing smart contracts. 


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