Iran Cryptocurrency Policy Soon

The Central Bank of Iran will announce its official policy on cryptocurrencies within the next few months, the monetary regulator’s deputy for international affairs said.

“CBI is tracking cryptocurrencies, but if we invest in Bitcoin, we must also accept its risk as no one will be accountable if someone’s capital is lost,” Gholamali Kamyab also told IRNA.

The official said various dimensions of virtual currencies remain “unknown”, as no one clearly knows which people or entities are behind them.

“The other problem is that with virtual currencies, money does not exit the banking system and therefore cannot be controlled.

Transactions are made through illegal moneychangers and therefore it also hurts the national interest, as foreign exchange flows out of the country,” he concluded.