RATE Group | Iran Finalizes National Cryptocurrency Draft Project – Report
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Iran Finalizes National Cryptocurrency Draft Project – Report

28 Aug Iran Finalizes National Cryptocurrency Draft Project – Report

Posted at 03:16h in Cryptocurrency News by

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Iran’s plan to introduce a state-backed digital currency has reached its final stage of development.

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Iran’s initiative to launch a state-backed digital currency has reached its final stage of development. The draft of the project has been prepared at the behest of President Hassan Rouhani, local news outlet Financial Tribune reported on Saturday, citing a government official statement.

Saeed Mahdiyoun, the deputy director in charge of drafting regulations for the country’s High Council for Cyberspace, has reportedly told the Iranian news agency IBENA that the draft document is now ready and will be officially announced soon. He added that idea of introducing a national cryptocurrency has been actively pursued in the recent meetings of the council.

Iran’s decision to develop a domestic digital currency was revealed last month and comes as a response to recent US-led economic sanctions and as a way to “facilitate the transfer of money” to “anywhere in the…

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