Iran to Pilot ‘National Cryptocurrency,’ Amend Central Bank Law
The central bank of Iran is gearing up to begin the pilot phase of its digital currency project in the near future, its new head announced to representatives of local media. The monetary authority is also preparing to move forward with a plan to reform the legislation that governs its own activities. Iran Preps Pilot for Sovereign Digital Currency The “national cryptocurrency” of Iran will enter its pilot stage soon, the recently appointed Governor of the Central Bank of Iran (CBI) Ali Salehabadi has unveiled. Speaking to reporters after his first meeting with....
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The Central Bank of Iran soon plans to launch the pilot phase of its digital currency project, an official unveiled. The Islamic Republic hopes to a join a growing club of nations that want to take advantage of having a sovereign coin, while it also seeks to implement blockchain technology in other areas.
Iran to Begin State-Backed Digital Currency Trials
The monetary authority of Iran intends to pilot its central bank digital currency (CBDC) in the near future, a high-ranking representative of the financial regulator said, quoted by the Iranian Labour News Agency (ILNA). The....
The Central Bank of Iran (CBI) has reportedly begun a pilot for its central bank digital currency (CBDC), also known as “crypto rial.” Iran’s chamber of commerce explained that the “crypto rial has been designed in a way that is easy to track, and even if the data on the smartphones are hacked, the crypto rial can be tracked.”
‘Crypto Rial’ Pilot Launches Today
The Central Bank of Iran (CBI) announced Wednesday that it will begin “the pilot launch of crypto rial” on Thursday, according to Iran’s Chamber of....
Iran will not recognize cryptocurrencies as a means of payment, a high-ranking government official has indicated. His statement came as the Central Bank of Iran announced rules for the issuance of digital coins in the country. These are meant, however, for its own “crypto rial,” the pilot phase of which should start in the near future.
Accepting Cryptocurrency for Payments Is a Red Line, Iranian Minister Says
Cryptocurrencies like bitcoin will not be treated as legal tender in the Islamic Republic of Iran. Discussing regulatory matters related to the storage and....
On Jan. 29, the governor of the Central Bank of Iran Valiollah Seif officially announced during a national television interview that the US dollar will no longer be used within the country as a response to US President Donald Trump’s controversial temporary travel ban on certain countries including Iran. According to the official statement of the Iranian central bank and Seif, the government intends to terminate the usability of US dollars in Iran and replace USD with a stable reserve currency that is more frequently used in foreign trades. Currently, the central bank of Iran are exploring....
The Central Bank of Iran hinted at a possible CBDC pilot soon without elaborating on the time frame of the program. The Central Bank of Iran (CBI) is reportedly planning to launch a central bank digital currency (CBDC) pilot soon.According to a report by the Iranian Labour News Agency, the CBI vice governor said that CBDCs could help the country resolv financial inconsistencies. The development of a sovereign digital currency in Iran began in 2018 at the Informatics Services Corporation — the executive arm of the CBI. The development phase has been completed and a pilot will be launched....