Iran to regulate cryptocurrencies through innovative policy and regulatory frameworks

The Central Bank of Iran (CBI) has introduced a “Policy and Regulatory Framework for Cryptocurrencies,” setting the stage for comprehensive oversight of the burgeoning digital asset market. The move aims to regulate cryptocurrencies in Iran, balancing the economic potential of the sector with the necessary safeguards.

The new framework prioritises licensing requirements for cryptocurrency brokers and custodians under CBI supervision. This is reported by Tehran Times, a partner of TV BRICS.

CBI Governor Mohammad Reza Farzin emphasised the collaborative efforts with the Ministry of Economic Affairs and Finance to craft a well-rounded regulatory environment. The framework underscores Iran's strategy to leverage digital currencies for economic growth, addressing risks while promoting innovation.

According to the source, Iran has strategically integrated cryptocurrency into its economy, particularly as a tool to mitigate the impact of international sanctions.

Regulated crypto mining has provided an alternative revenue stream, while digital currencies have been explored for international trade settlements, enabling Iran to navigate restricted financial networks.

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