Nov 1, 2017 by Andrei Calina

Iran’s Deputy Minister of Information and Communication Technology, Amir Hossein Davaee, said that his government is making all the arrangements necessary for Bitcoin usage inside the country as quickly as possible. A research into the economic and infrastructural aspects of having the digital currency on the market has already been done, informs Bitcoin.

Iran is ready to start using the top coin!

“The ministry of communications and information technology has already conducted a number of research studies as part of [its] efforts to prepare the infrastructure to use bitcoin inside the country,” said Amir Hossein Davaee in an interview last week. He added that Iran has to deal with two aspects, economic and infrastructural, when it comes to adopting Bitcoin, but his country is prepared to do anything that is in the general interest of Iran.

Just like in Vietnam or Singapore, the Iranian central bank has a different opinion regarding the commerce done with Bitcoin, considering it illegal. This position translates into skeptical local businesses when it comes to embracing the digital currency, although there has been no law passed by the government so far banning the use of Bitcoin as a payment method.

Cryptocurrency is already present in Iran, though

While the Iranian government has been working on proposed regulations for digital currencies, Iranian citizens rely on Localbitcoins and on an Australian-based peer-to-peer marketplace Coinava. This last one lis letting buyers and sellers in Iran connect without directly buying or selling bitcoins.

In fact, many companies in Iran used Bitcoin transactions, but they want to avoid the tax laws related to it, so their keeping discretion to the fullest. According to the same source, Iranian economist Morteza Imani-Rad explained that Bitcoin can’t actually influence Iran’s economy, at least not for now.

He also added that bitcoin transactions are not legal and legally unrecognizable, so it can’t have any effect on the country’s economy. Morteza Imani-Rad added that the market cap of bitcoin was too small to facilitate buying and selling of international oil contracts.