Can Iran Develop Its Own Cryptocurrency?

Can Iran Develop Its Own Cryptocurrency?

Iranian government pursues  developing of its own cryptocurrency project in the future.

-The Iranian government will pursue the cryptocurrency project despite the prohibition of Iranian government in cryptocurrency activities
-Mohammad Javad Azari-Jahromi stated that this decision of Central bank of Iran will not affect  the project
-There is an ongoing argument in management of cryptocurrency  related activities in different countries’ central banks

Central bank of Iran’s  decision to ban cryptocurrency related activities emerged from its fears that these activities may be used for money laundering. Mohammad Javad Azari-Jahromi is the youngest minister who is in favor of cryptocurrencies.

According to Azari-Jahromi, the trial model of this cryptocurrency project is ready. Last February, Azari-Jahromi stated that they are working with local experts to develop a trial cryptocurrency.

Iran government is still traditional in terms of financial related activities. Islamic Finance encourages cryptocurrency which can have a positive effect in the nation

There are countries who strictly regulates cryptocurrencies while there are others who freely implements use of cryptocurrency

Venezuela’s cryptocurrency Petro, has experienced challenges upon its implementation

Read the article written by Gerald Fenech at – https://coingeek.com/