Iranian Government Preparing for Bitcoin Use Inside the Country

The Iranian government has been conducting research into the economic and infrastructural aspects of bitcoin and its use in the country. According to the ministry of information technology, “arrangements are being made” to put together the infrastructure for the digital currency “as early as possible,” reports.

Iranian Deputy Minister of Information and Communication Technology, Amir Hossein Davaee, said in an interview with Farsi newspaper Shargh, published on Wednesday:

“The ministry of communications and information technology has already conducted a number of research studies as part of efforts to prepare the infrastructure to use bitcoin inside the country. We as the main centre in Iran dealing with the country’s technology developments have taken very seriously the issue of preparing the infrastructure for the new currency.”

He said that the cryptocurrency has two aspects, economic and infrastructural, adding that adopting it in Iran will end up being in the general interest of the country.

“We, as the main center in Iran dealing with the country’s technology developments, have taken very seriously the issue of preparing the infrastructure for the new currency,” he was quoted saying.

According to Iran Front Page, Davaee added that such digital infrastructure is part of the soft power of the country and that the entrance of the cryptocurrency into Iran will eventually be in the general interests of the country.

Although the Iranian central bank deems commerce done with bitcoin is “not legal,” which discourages local businesses from embracing the digital currency, there has been no law passed by the government so far specifically banning the use of bitcoin as a payment method. Meanwhile, the Iranian government has been working on proposed regulations for digital currencies and is in touch with international bodies in order to pursue this goal:

“Arrangement are being made with the related organizations to put together the infrastructure as early as possible,” Davaee said.

Residents of Iran rely on Localbitcoins as well as Australian-based peer-to-peer marketplace Coinava which connects buyers and sellers in Iran without directly buying or selling bitcoins. Additionally, Iran’s Bitcoin group on Facebook is active with over 29,000 members at present.