Restrictions on Crypto Trading to Deprive Nation of Opportunities, Iranian Fi...
Startups have spoken out against government attempts to curb the operations of crypto exchanges in Iran. Cryptocurrency trading is not illegal, Iranian fintechs insist, calling on lawmakers and regulators to develop rules that would allow the sanctioned country to continue to take advantage of decentralized money transfers. Iranian Fintechs Insist There Is No Ban on Cryptocurrency Trade Recent statements by various authorities in Teheran have prompted a response from the Iran Fintech Association (IFA) which represents companies working in the sector. In a letter to the speaker of....
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Members of the Iranian parliament, the Majlis, have voiced concerns over Tehran’s restrictive policies towards innovations such as cryptocurrencies. Following the release of a study recommending a new approach towards the crypto industry, the lawmakers have called for the adoption of friendlier regulations.
Iranian MPs Urge for Change in Crypto Policies After Research
Some parliamentarians in Iran have set out to change the government’s regulatory attitude towards cryptocurrencies, citing opportunities to use them to improve the nation’s sanctioned and....
Where authoritarian government control and restrictions on individual liberties appear to be the strongest, the Bitcoin community is still growing and in some cases thriving. Just this week Coin Ava launched as the first Iranian Website open for Iranians to buy and sell Bitcoins. While Iranian leadership is known for tight regulations on citizens in particular for those seeking to utilize the internet and community with the rest of the world, Iranians have found a way around onerous authoritarian restrictions through the Bitcoin currency. Last year, Bloomberg Businessweek pushed out an....
The Iranian National Tax Administration (INTA) has put forward a proposal to tax digital asset exchanges operating in the country. The authority calls for the legalization of their activities, fearing restrictions could negatively affect tax collection. Tax Agency Wants to Obtain User Data From Authorized Exchanges Seeing an opportunity to use exchange transactions as a basis for taxation, the INTA has urged regulators in Tehran to legalize crypto trading platforms. In an excerpt from its draft proposal quoted by Iranian media, the tax authority insists: Legalizing crypto exchanges is....
A think tank affiliated with the Iranian Presidency has unveiled a study report that encourages the use of cryptocurrencies in circumventing sanctions against the country. In addition, the report also claims the government could potentially “generate US$2 million a day and $700 million a year in direct revenue from cryptocurrencies.” Employment Opportunities Meanwhile, as reported by one local media outlet, the authors of the report say Iran can increase employment opportunities across its economy if it enables the creation of more bitcoin mining farms. In their report, the....
The Monetary Authority of Singapore (MAS) has told Parliament that the central bank is considering imposing additional restrictions on cryptocurrency trading. They include “placing limits on retail participation, and rules on the use of leverage when transacting in cryptocurrencies.”
MAS Considers New Restrictions on Crypto Trading
Tharman Shanmugaratnam, the minister in charge of the Monetary Authority of Singapore (MAS), answered a parliamentary question about the regulation of cryptocurrency Monday.
Murali Pillai, a member of the Singapore Parliament,....