APR 20, 2024 JLM 54°F 04:41 AM 09:41 PM EST
Iran bypasses international trading systems and officially turns to the cryptocurrency market

Today, Wednesday, Iranian media revealed that the Iranian Ministry of Industry and Trade has agreed with the central bank to adopt foreign trade cryptocurrencies.

The same sources quoted Alirza Feiman Pak, Deputy Minister of Industry and Trade: "Recently, the use of 'blockchains', or encrypted blocks, and cryptocurrencies, has become one of the methods used for financial arrangements and payment mechanisms. We agreed with the Bank of Iran to adopt them in foreign trade. "

He added, "We see cryptocurrencies as a tool for developing foreign trade, and we invite Iranian traders, and those who export goods, to use any cryptocurrency they can use to purchase goods."

He continued, "We will start using these methods on the stock exchanges over the next two to three weeks, and we expect to achieve 10% growth in non-oil exports by adopting these methods."

It is worth noting that according to previous reports Iran is one of the countries that deals most in cryptocurrencies, mainly in money laundering and arms and drug trafficking.

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