The National Virtual Space Center’s Economic and Regulatory Affairs Department responded to the inquiry of Iran’s Fintech Association stating that cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Shiba (SHIB) are not considered legal tender and therefore are not subject to central bank regulations. The definition of cryptocurrency in the central bank law specifies that only the central bank has authority over cryptocurrencies. Global cryptocurrencies do not fall under this definition and will not be subject to central bank regulations on cryptocurrencies. The response also emphasizes the obligation of various entities to comply with the provisions of the approved cryptocurrency regulation system. Closing banking gateways for illegal cryptocurrency exchanges is required, and all relevant entities must adhere to these provisions. This could significantly impact the activities of cryptocurrency exchanges and related exchange policies in the future. Additionally, individuals are prohibited from obtaining licenses that are not registered in the national license portal. This indicates that no entity can compel cryptocurrency industry participants to obtain licenses outside the established legal framework. It seems that the National Virtual Space Center is striving to establish a clear framework for cryptocurrency activities in the country while preventing the imposition of restrictions beyond existing laws. You can monitor the live prices of all tokens and cryptocurrencies on the real-time digital currency price page.
