Skip to content
Real Cryptocurrency Hub

Real Cryptocurrency Hub

Crypto Comeback Pro is an auto trading platform that allows you to invest in the crypto market and start making money right away. Sign Up HERE

  • Home
  • Start Trading
  • English
    • English
    • Español
    • Italiano
    • Polski
    • Svenska
    • Deutsch
    • العربية
  • News
    • Mining
    • Bitcoin (BTC)
    • ATM
  • Guides
  • How To’s
  • Exchange/Wallet
  • Brokers
  • Bitcoin Price Prediction
  • ✉ Contact
  • Home
  • Crypto News
  • Legal Framework for Cryptocurrencies Demanded by the Iranian President
  • Crypto News
  • Regulation

Legal Framework for Cryptocurrencies Demanded by the Iranian President

Blaine Matta June 8, 2021 2 min read

With the passage of time, the United States of America and its allies are tightening strict sanctions around Iran. So far, the United States has rendered the Iranian economy almost crippled for stopping others from doing trades with the country.

With the sanctions constantly getting a grip on Iran, the country has started making a great shift towards the cryptocurrency space. Even the Iranian public has started adopting cryptocurrencies on a larger scale to circumvent the restrictions imposed by the United States through traditional financial institutions.

The country is following in the footsteps of other countries such as Cuba and Venezuela that are facing a similar kind of demise as Iran. These countries have also adopted Bitcoin (BTC) and altcoins to circumvent traditional financial institutional restrictions.

With the cryptocurrency industry and its adoption constantly increasing in Iran, the country is now considering inducting the industry into legal assets.

Therefore, the country is now considering coming up with a regulatory framework in order to give cryptocurrencies a legal status. However, the country is still adamant about keeping the mining of Bitcoin (BTC) banned for an indefinite amount of time.

It was on Tuesday, June 8, when the President of Iran, Hassan Rouhani talked about the legalization of cryptocurrencies. Rouhani talked about legalizing cryptocurrencies during an Economic Coordination Boarding meeting for the cabinet.

During the meeting, Hassan Rouhani stated that the regulatory authorities need to do whatever they can to protect and preserve the national interest of the country. To execute this with full responsibility, the regulatory authorities need to give legal status to the crypto-activities in the country.

Rouhani stated that with the passage of time, the cryptocurrency industry has grown big in the country. Even the locals are now used to performing activities related to cryptocurrencies. This means that it is no longer possible for regulators to stop or ban cryptocurrency activities in the country.

This is the reason why the country needs to focus on legalizing the cryptocurrency industry rather than banning its utilities. The regulators need to focus on the technical and legal requirements of digital and cryptocurrencies.

The country also needs to keep in mind the risks involved in the adoption of cryptocurrencies. It needs to ensure that none of its cryptocurrency-related activities are legal or are doing harm to the environment.

Now that the United States has started making its presence known in the cryptocurrency industry, it is running things its own way. The first target for the United States in the crypto-verse is China, which is known for mining 34% of the total bitcoin all over the world.

The country has completely rejected that Bitcoin (BTC) China mines claiming it has been mined through environmentally harmful energy sources. Therefore, Iran is also keeping this in mind when legalizing cryptocurrencies and going with Bitcoin (BTC) mining.

Post Views: 414

Continue Reading

Previous: A Luxury Yacht Firm has Gone Bitcoin (BTC) and Blockchain Pro
Next: Americans Pocketed $4 Billion in BTC Returns Last Year

Related Stories

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions
2 min read
  • Crypto News

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

August 3, 2022
Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement
2 min read
  • Crypto News
  • Price Analysis
  • Trading

Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

August 2, 2022
Coinbase Obtains Operational License In Italy
3 min read
  • Crypto News
  • Cryptocurrency Exchange / Crypto Wallet

Coinbase Obtains Operational License In Italy

August 1, 2022

Read our disclaimer

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$24,466.00
6.94%
ethereum
Ethereum (ETH)
$1,912.15
13.95%
tether
Tether (USDT)
$1.00
0.11%
binancecoin
BNB (BNB)
$334.81
3.87%
usd-coin
USD Coin (USDC)
$1.01
0.45%
ripple
XRP (XRP)
$0.386389
5.75%
cardano
Cardano (ADA)
$0.55
6.87%
polkadot
Polkadot (DOT)
$9.64
11.15%
dogecoin
Dogecoin (DOGE)
$0.072509
6.13%
Uniswap
Uniswap (UNI)
$9.36
11.78%

Recent Posts

  • Alfabtc Review – A Recommended Cryptocurrency Broker

    Alfabtc Review – A Recommended Cryptocurrency Broker

     Alfabtc Review Alfabtc is a competent brokerage firm known for its fast and efficient execution of trade. The
  • Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

    Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

    Hodlnaut has announced that it has frozen its services for the users. The firm made an official announcement
  • Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

    Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

    Lido DAO (LDO) has proven to be one of the top performers in the cryptocurrency industry in the
  • CTproz Review – A Recommended Crypto Broker

    CTproz Review – A Recommended Crypto Broker

    CTproz Review The number of people engaging in online trading continues to rise, and if you don’t want
  • Coinbase Obtains Operational License In Italy

    Coinbase Obtains Operational License In Italy

    One of the top crypto exchanges in the market, Coinbase recently achieved yet another milestone, as it was

Start Trading

Categories

Top Posts

  • ETH 2.0 Will Soon Be Fully Implemented After Passing Through Testing Phases

    ETH 2.0 Will Soon Be Fully Implemented After Passing Through Testing Phases

    You might have heard about the new update that was scheduled for Ethereum’s blockchain in the past and
  • 500.trade Review: Important features of this Platform

    500.trade Review: Important features of this Platform

    500.trade Review If you wish to indulge in online trading, you will have to sign up on an
  • Price Analysis of XDC Network, Monero, Curve DAO Token, and UNUS SED LEO

    Price Analysis of XDC Network, Monero, Curve DAO Token, and UNUS SED LEO

    The price analysis for XDC Network (XDC) shows that in the past 7-days, its price has surged 18.79%.
  • Elon Musk Continues to Support Dogecoin amid Current Dips

    Elon Musk Continues to Support Dogecoin amid Current Dips

    As the “Crypto King” Elon Musk has managed to make himself one of the most important voices in
  • Rapid Rise of Bitcoin in 2021 and Its Tremendous Returns

    Rapid Rise of Bitcoin in 2021 and Its Tremendous Returns

    Believe it or not, the prices of bitcoin were on the lower side during the early months of

Archives

You may have missed

Alfabtc Review – A Recommended Cryptocurrency Broker
3 min read
  • Brokers
  • Reviews

Alfabtc Review – A Recommended Cryptocurrency Broker

August 10, 2022
Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions
2 min read
  • Crypto News

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

August 3, 2022
Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement
2 min read
  • Crypto News
  • Price Analysis
  • Trading

Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

August 2, 2022
CTproz Review – A Recommended Crypto Broker
3 min read
  • Brokers
  • Reviews

CTproz Review – A Recommended Crypto Broker

August 1, 2022
  • Kraken
  • OrbitGTM
  • Fxoro
  • KuCoin
  • Huobi
  • Bitfinex
  • PrimeXBT
  • CTmatador
  • DXCBIT
  • PrimeHolders
  • CMC Markets
  • XCGIN
  • Virtual Payout
  • Gamma Capitals
  • Towards Soure
  • CoinsMarkets
  • ArgoTrade
  • Global Solution
  • CTProz
Copyright © All rights reserved. | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$24,466.006.94%
  • ethereumEthereum(ETH)$1,912.1513.95%
  • tetherTether(USDT)$1.000.11%
  • binancecoinBNB(BNB)$334.813.87%
  • usd-coinUSD Coin(USDC)$1.010.45%
  • rippleXRP(XRP)$0.3863895.75%
  • cardanoCardano(ADA)$0.556.87%
  • SolanaSolana(SOL)$43.178.30%
  • polkadotPolkadot(DOT)$9.6411.15%
  • dogecoinDogecoin(DOGE)$0.0725096.13%
  • UniswapUniswap(UNI)$9.3611.78%
  • bitcoin-cashBitcoin Cash(BCH)$144.668.13%