Economists: The value of Iran's cryptocurrency holdings is equivalent to one-third of the country's gold market

2024-12-09 13:47:52

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ChainCatcher news, economist Mohammad Sadegh Alhosseini stated that the value of cryptocurrencies held by Iran is between 30 billion and 50 billion dollars, accounting for about one-third of the country's gold market. Iran's daily cryptocurrency trading volume is approximately 143 million dollars (1 trillion rials).

The Central Bank of Iran (CBI) and the Ministry of Finance are developing measures to increase the transparency of the cryptocurrency market, which has been used to circumvent U.S. sanctions on international banking. Last Saturday, the CBI released a policy document aimed at aligning cryptocurrency trading with Iran's anti-money laundering and tax laws.

Alhosseini warned that stricter regulations could expose sanction-evading businesses to U.S. penalties, which would hold the CBI accountable. He suggested that private entities could play a role in organizing the market to reduce the risk of direct government oversight. (Bitcoin.com)

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