Bitcoin Forum

Iran’s Central Bank Will Study “All Aspects” of Bitcoin

The central bank of Iran is undertaking a comprehensive study on cryptocurrencies with a particular spotlight on bitcoin.
In a news conference yesterday, the Central Bank of Iran’s deputy director of innovative new technologies Nasser Hakimi revealed the authority’s intent to examine all aspects of Bitcoin as a part of its research agenda. The central bank will then follow up its study with a complete review of its policies on cryptocurrencies. The central bank official highlighted “uncertainty and high risk” price fluctuations as a major concern. As is the trend of investors risking their capital in bitcoin due to ‘speculation’ that was ‘worrying’, according to Hakimi.

https://www.cryptocoinsnews.com/irans-central-bank-study-aspects-bitcoin/

Central bank of Iran studying bitcoin is not the issue of worry . But the matter of concern is how central bank is going to study it .
We all know bitcoin is a threat to all the central banks . That is the sole reason of its government bans and all other controversies .  So they might end up taking a biased decision against Bitcoin.
The uncertanity and high risk will always stay in the investment of bitcoin , but it will be very beneficial for their country if they also look out for its positive aspects .
They can regulate it if they find it too "risky" . But i hope the study of bitcoin by the central banks turns out to be in favor of bitcoin.

Might? They will. It however doesn't mean that it will result in a ban or whatever. It can also just be a public statement that they don't recommend investing in Bitcoin, or to even use it due to the volatility or whatever other reasons.

I am however more inclined to think that everything they come up with hasn't exactly to do with the volatility or unregulated nature of Bitcoin, but more with the fact that they don't want capital to leave their country.

Either way, it doesn't necessarily have to be in Bitcoin's favor, which it likely never will be, and that isn't just related to Iran, but basically any other country ~ we can only hope for reasonable regulations.

If this study will turnout to be legit and true and haven’t been mixed up with biases from the banking system that is the one taking the initiative then it will be good to bitcoin. But because it is be conducted by a central bank representative and workers that this be a reliable one to start with. Let see what will happen, after all its hard to tell how they will be judged on something that still in process of planning and yet no implementation whatsoever.

Sure, but we can't ignore the fact that it's Iran that we are talking about. Everything they come up with is mostly considered to be an extreme measure in the western world. Other than that, I don't think anyone here will care about whatever Iran will come up with after their 'study'. It will likely result in a situation where people and businesses are not allowed to use or even hold crypto currencies, where the OTC/P2P market will boom afterwards -- we have seen this happen in several countries already that are known to be hostile against anything they see as a potential threat.

I will expect a negative result from the study that they are doing about Bitcoin, what would you expect from an industry who will be directly affected once bitycoin becomes successful. Positive feedbacks from the bank would be like a shot to the moon.

I am a little bit surprised for Iran to get interested with Bitcoin as we know that many countries seem to be afraid of the development on cryptocurrency especially on Bitcoin. But then again if we have to look closely, Iran can be interested on Bitcoin primarily because they can easily use Bitcoin to get around with international sanctions and possible embargo. Iran has had been the receiving recipient of many sanctions in the past and am sure they can use Bitcoin as one of the best ways to get around it. In fact, there are already many authorities who expressed concerns that indeed Bitcoin can be the best tool to circumvent sanctions imposed especially by the UN. It would be interesting if the government would be allowing their people easy access to Bitcoin and its development or would they use Bitcoin exclusively.

I don't want to be negative or what but will they hire someone who is inclined on Bitcoin  and Blockchain technology to teach them? It should not be just the advisers or any government related person or any lawmaker without background should do the studying and evaluating Bitcoin. It will be a disaster if they will not hire someone who is knowledgeable on Bitcoin to guide them through the studying process.