The research arm of Iran's Parliament has conducted a study on cryptocurrencies, advising a host of decision-making bodies to join forces and employ the potentials of digital money and blockchain technologies through constructive regulations to foster the economy and circumvent US sanctions.
The study, titled "A prelude to regulating cryptocurrencies in Iran's economy", was published on the official website of Majlis Research Center. It probes the history of cryptocurrencies' advent, variety of virtual currencies, markets, pros and cons and regulatory frameworks.
The center summarized the issue and offered solutions tailored to Iran and called for swift action, especially since external pressure against it is only liable to increase after US President Donald Trump's pullout from the Joint Comprehensive plan of Action.
MRC wrote that in light of the difference between cryptocurrencies and traditional currencies, regulators must "enact regulations in response to this type of currency in the country as soon as possible" and make the pros outweigh the cons for Iran.
July 20, 2018 18:43
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Majlis Think Tank Calls for Regulating Cryptocurrency
MRC wrote that in light of the difference between cryptocurrencies and traditional currencies, regulators must “enact regulations in response to this type of currency in the country as soon as possible”
Various measures could be considered in case of cryptocurrencies, including the minting of currencies by private and public sectors
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