[2018-08-27] Iran Expected to Lift Cryptocurrency Ban in September

[moriskarlov]

The deputy for innovative technologies at the Central Bank of Iran, Nasser Hakimi, has stated that Iran’s financial regulator will be reviewing the country’s blanket cryptocurrency ban. The central bank official also indicated that the country’s regulatory apparatus pertaining to virtual currencies is expected to be finalized by the end of September.

Iranian Central Bank Official Hints That Cryptocurrency Ban May Be Repealed During September

Whilst speaking at a conference on cryptocurrency and distributed ledger technology in Tehran on Sunday, Nasser Hakimi, the Central Bank of Iran’s deputy for innovative technologies, made statements inferred as indicating that the Iranian administration will likely repeal its blanket ban on cryptocurrencies during September.

“The first concerns the prevalent global cryptocurrencies. The High Council of Anti-Money Laundering has imposed a ban in light of concerns over global allegations of money laundering and financing of terrorism. But it seems that after the government’s consideration, this blanket ban will be reviewed,” Mr. Hakimi stated.

The blanket ban, first announced on April 22nd of this year, was ostensibly intended to address concerns pertaining to money laundering and financing of terrorism.

Iran to Deliver New Cryptocurrency Regulations in September

The cryptocurrency ban is expected to be lifted when Iran announces the finalization of its new regulatory apparatus pertaining to cryptocurrencies, which is currently slated to occur by the end of September.

According to Financial Tribune, Iran’s new cryptocurrency policies have been developed under the guidance of President Hassan Rouhani.

See more - https://news.bitcoin.com/iran-expected-lift-cryptocurrency-ban-september/

[Betwrong]

Not many people living in Western countries know that Iran during the recent years is making its way towards incorporation into the Western community, and that the pace of this advancement is much faster than that of other Eastern countries. Western folks would be surprised even by seeing these very lines:

Whilst speaking at a conference on cryptocurrency and distributed ledger technology in Tehran ...

However paradoxical it may seem, nonetheless it is true that the Iranian government is more progressive than the Chinese government, for example. And the intention to lift its blanket ban on cryptocurrencies in the nearest future only confirms this.

[buwaytress]

The ban, as noted, was ineffective. Rather than a lose-lose situation for everyone, they've at least relented to the inevitable coming of Bitcoin and crypto. The only thing one would hope for, as a citizen there anyway, is that they don't go down the path of Venezuela in creating a centralised and closed token. It would just be an incredible headache to convince allies and partners to accept a new token, not to mention how insecure the blockchain itself might be if it were to be attacked by enemies.

One would hope they would go for the obvious, the most secure, the most readily accepted, the most widely available: Bitcoin.

[Kemarit]

Hmmm. Interesting news coming from article. However, after reading the news:

Mr. Hakimi also discussed the possibility of Iran’s current position regarding the development of a state-issued cryptocurrency, stating: “National virtual currencies haven’t proved successful experiences in the world, but some economic officials have emphasized on this, so the Informatics Services Corporation has readied a test edition and some other entities are also cooperating in this.”

https://news.bitcoin.com/iran-expected-lift-cryptocurrency-ban-september/

Perhaps this is the reason why they will lift the ban because thy are thinking of having their own government back crypto. I'm sure that they will end like Venezuela though, having their own coins for the sake of circumventing a trade embargo.

[Slow death]

The cryptocurrency ban is expected to be lifted when Iran announces the finalization of its new regulatory apparatus pertaining to cryptocurrencies, which is currently slated to occur by the end of September.

For now this news is only a empty promise, there is nothing concrete, they can change their minds as these governments always change their minds, how often we listen to certain governments say: "at the end of month X we will regulate crypto and when that month arrives, they do not regulate anything. "I do not know why our bitcoin news channels still waste time posting news that is not yet concrete, it only creates expectation in people and after the news does not materialize people are disappointed.

Central Bank Of Iran Bans Banks From Crypto Dealings

After

Iran: Model Of State-Issued Digital Currency Now Ready, Says Gov’t Minister

[Thekool1s]

Is this supposed to act like a bull signal or something? Cuz this has become a norm now! What usually happens is Governments Ban "Crypto" > make a team/unit to research on 'shit' they just banned > Find out the technology is actually beneficial > Announce new Regulations.  

[veleten]

Hmmm. Interesting news coming from article. However, after reading the news:

Mr. Hakimi also discussed the possibility of Iran’s current position regarding the development of a state-issued cryptocurrency, stating: “National virtual currencies haven’t proved successful experiences in the world, but some economic officials have emphasized on this, so the Informatics Services Corporation has readied a test edition and some other entities are also cooperating in this.”

https://news.bitcoin.com/iran-expected-lift-cryptocurrency-ban-september/

Perhaps this is the reason why they will lift the ban because thy are thinking of having their own government back crypto. I'm sure that they will end like Venezuela though, having their own coins for the sake of circumventing a trade embargo.

it is possible that this is just speculations
I've learned one thing-do not trust the news about Russia banning/legalizing cryptocurrencies untill it is finalized in some law
pretty sure it is the same case here with Iran- do not believe it till it happens, "discussing possibilities" is far enough from "legalizing"
but you are right about them thinking about introducing some sort of a state backed crypto and exiting the dollar zone

[Betwrong]

Hmmm. Interesting news coming from article. However, after reading the news:

Mr. Hakimi also discussed the possibility of Iran’s current position regarding the development of a state-issued cryptocurrency, stating: “National virtual currencies haven’t proved successful experiences in the world, but some economic officials have emphasized on this, so the Informatics Services Corporation has readied a test edition and some other entities are also cooperating in this.”

https://news.bitcoin.com/iran-expected-lift-cryptocurrency-ban-september/

Perhaps this is the reason why they will lift the ban because thy are thinking of having their own government back crypto. I'm sure that they will end like Venezuela though, having their own coins for the sake of circumventing a trade embargo.

Even if they want to legalize crypto in Iran in order to issue their own coin, I think legalization is a good thing overall because it is a big step towards merging with Western world. I wouldn't compare Iran with its potential ability of creating nuclear weapons and closeness to Europe to Venezuela with which Western world can be at war without serious consequences. I think it's better to be friends with Iran, especially when Iran shows its willingness to cooperate. As we know, Iran had limited its nuclear activities in return for lifting economic sanctions in 2015, and I think that the intention of the current US administration to reimpose tough sanctions on Iran is a big mistake. (Unless Iran has broken the deal, but as far as I know this not the case.)

[BitHodler]

I think it's better to be friends with Iran, especially when Iran shows its willingness to cooperate. As we know, Iran had limited its nuclear activities in return for lifting economic sanctions in 2015, and I think that the intention of the current US administration to reimpose tough sanctions on Iran is a big mistake.

Iran is a country that can't be trusted regardless of how "willing" they are to cooperate. This of course doesn't mean the US is more trustworthy by any means, but their religious government absolutely hates the west.

If you allow them to become a wealthier economy then you are basically shooting yourself in the foot. It's sad for the citizens there since they seem all right mostly, but you can't exclude a country without impacting innocent people.

We'll never find out what made the US not value their initial promise to soften their sanctions, but then again, they do what they want anyway, so we shouldn't be surprised about this at all, especially with circus clown Trump in place.

[hotforblockchain]

Even if they want to legalize crypto in Iran in order to issue their own coin, I think legalization is a good thing overall because it is a big step towards merging with Western world. I wouldn't compare Iran with its potential ability of creating nuclear weapons and closeness to Europe to Venezuela with which Western world can be at war without serious consequences. I think it's better to be friends with Iran, especially when Iran shows its willingness to cooperate. As we know, Iran had limited its nuclear activities in return for lifting economic sanctions in 2015, and I think that the intention of the current US administration to reimpose tough sanctions on Iran is a big mistake. (Unless Iran has broken the deal, but as far as I know this not the case.)

The appearance of nuclear programming is only one of the argument. These people can not be trusted.
They are actively engaging in wars across their boarders not of mention that they are extremely religious country which is not a good thing in any way . Extreme religions is blindness.

[timerland]

The deputy for innovative technologies at the Central Bank of Iran, Nasser Hakimi, has stated that Iran’s financial regulator will be reviewing the country’s blanket cryptocurrency ban. The central bank official also indicated that the country’s regulatory apparatus pertaining to virtual currencies is expected to be finalized by the end of September.

Iranian Central Bank Official Hints That Cryptocurrency Ban May Be Repealed During September

Whilst speaking at a conference on cryptocurrency and distributed ledger technology in Tehran on Sunday, Nasser Hakimi, the Central Bank of Iran’s deputy for innovative technologies, made statements inferred as indicating that the Iranian administration will likely repeal its blanket ban on cryptocurrencies during September.

“The first concerns the prevalent global cryptocurrencies. The High Council of Anti-Money Laundering has imposed a ban in light of concerns over global allegations of money laundering and financing of terrorism. But it seems that after the government’s consideration, this blanket ban will be reviewed,” Mr. Hakimi stated.

The blanket ban, first announced on April 22nd of this year, was ostensibly intended to address concerns pertaining to money laundering and financing of terrorism.

Iran to Deliver New Cryptocurrency Regulations in September

The cryptocurrency ban is expected to be lifted when Iran announces the finalization of its new regulatory apparatus pertaining to cryptocurrencies, which is currently slated to occur by the end of September.

According to Financial Tribune, Iran’s new cryptocurrency policies have been developed under the guidance of President Hassan Rouhani.

See more - https://news.bitcoin.com/iran-expected-lift-cryptocurrency-ban-september/

This is great news, if it can actually result in change in the current policies.

A blanket crypto ban simply doesn't make much sense in my opinion, simply because of the fact that it is extremely hard to enforce. Bitcoin and most other cryptos are decentralized in one way or another, which means that it's not like the Iranian government can do much to monitor crypto use outside of central exchanges, which are already banned under these policies.

It's more practical to regulate third party service providers when it comes to crypto. We still don't know what regulations they're going to come up with though, which means that it's probably too early to be too optimistic on this. Maybe they'll just come out with huge taxes or restrictive regulations to deter people from using crypto after all. But if not, then it's definitely a huge plus for crypto globally, and to a further extent, Iranian crypto users.

[Betwrong]

~
Iran is a country that can't be trusted regardless of how "willing" they are to cooperate. ~

I don't want to sound like I'm supporting the current Iranian government, but I think I have to say couple of things here.

First of, Iran is not North Korea where over 95% of the brainwashed population support the regime. I personally know several Iranians some of whom say they are atheists and others say they are Zoroastrians. They say they hate the current Islamic government and that most of their friends hate it too, and that only uneducated people from rural places support the government(although they are majority it doesn't matter much because it's not a big deal to make them change their minds).

Secondly, there are Iranian reformists who, according to wikipedia, "support former President Mohammad Khatami's plans to change the Iranian political system to include more freedom and democracy." And those people are not sitting in jails, they are sitting in the Parliament, occupying 103 seats out of total 290(36%). There are Ministers among them, 7 / 18(39%), and Vice Presidents, 5 / 12(42%).

That's why I think it's a big mistake to push Iran away with the newly imposed sanctions.

~ It's sad for the citizens there since they seem all right mostly, but you can't exclude a country without impacting innocent people.
~

Yes, I agree with you, and in case of Iran, we shouldn't exclude the country.

[reliable]

This is a good news if it happens and may be due to the oil issue they are lifting thew ban so that they can get more revenue form public through taxes or making payment in crypto currency or accepting it etc would be another reason the government are thinking on those lines due to which they may be lifting it.

[Kemarit]

Hmmm. Interesting news coming from article. However, after reading the news:

Mr. Hakimi also discussed the possibility of Iran’s current position regarding the development of a state-issued cryptocurrency, stating: “National virtual currencies haven’t proved successful experiences in the world, but some economic officials have emphasized on this, so the Informatics Services Corporation has readied a test edition and some other entities are also cooperating in this.”

https://news.bitcoin.com/iran-expected-lift-cryptocurrency-ban-september/

Perhaps this is the reason why they will lift the ban because thy are thinking of having their own government back crypto. I'm sure that they will end like Venezuela though, having their own coins for the sake of circumventing a trade embargo.

Even if they want to legalize crypto in Iran in order to issue their own coin, I think legalization is a good thing overall because it is a big step towards merging with Western world. I wouldn't compare Iran with its potential ability of creating nuclear weapons and closeness to Europe to Venezuela with which Western world can be at war without serious consequences. I think it's better to be friends with Iran, especially when Iran shows its willingness to cooperate. As we know, Iran had limited its nuclear activities in return for lifting economic sanctions in 2015, and I think that the intention of the current US administration to reimpose tough sanctions on Iran is a big mistake. (Unless Iran has broken the deal, but as far as I know this not the case.)

I don't know mate, Yes, I understand that legalization is good towards the crypto sphere, but I have a feeling that something is fishy is going on inside Iran that government officials might have other motives behind. And as @BitHodler, they can't be trusted. Iran and US has no diplomatic relationship since the '80's. And I don't think they have intentions to to be close with the West, not with the legalization of crypto.

[1Referee]

That's why I think it's a big mistake to push Iran away with the newly imposed sanctions.

I honestly believe that there is something going on in the background that may have forced the US to cut off Iran again, and it could very well come from Saudi Arabia. It's in their benefit to keep Iran's economy as close to the ground as possible in that region. Seriously, if Iran's economy starts blooming, the Saudi's could eventually lose their dominant position. If you also add that Iran has insane amounts of fossil resources, you know that there is plenty of potential hiding in that country.

Stronger Iran also means they'll be more capable of financially supporting Shiite forces, and thus suppressing the Sunni forces that are active in countries as Syria, Irak, Yemen, etc.

[BitHodler]

First of, Iran is not North Korea where over 95% of the brainwashed population support the regime. I personally know several Iranians some of whom say they are atheists and others say they are Zoroastrians. They say they hate the current Islamic government and that most of their friends hate it too, and that only uneducated people from rural places support the government(although they are majority it doesn't matter much because it's not a big deal to make them change their minds).

Talking to a bunch of atheists doesn't hold much value, especially with how they tend to glorify their own thinking over that of the majority which happens to prefer a government with strict Islamic laws.

Secondly, there are Iranian reformists who, according to wikipedia, "support former President Mohammad Khatami's plans to change the Iranian political system to include more freedom and democracy." And those people are not sitting in jails, they are sitting in the Parliament, occupying 103 seats out of total 290(36%). There are Ministers among them, 7 / 18(39%), and Vice Presidents, 5 / 12(42%).

It's safe to say that in these countries democracy is nothing more than a hoax. It won't ever work and I think we should allow them to continue to rule their countries with iron fist, all to suppress terrorist organizations.

Look at how democracy was meant to help Libya become a more stable country, but all it did was turn that country in a near lawless war zone. How about Turkey? Do you think their form of "democracy" helped people there?

[Betwrong]

First of, Iran is not North Korea where over 95% of the brainwashed population support the regime. I personally know several Iranians some of whom say they are atheists and others say they are Zoroastrians. They say they hate the current Islamic government and that most of their friends hate it too, and that only uneducated people from rural places support the government(although they are majority it doesn't matter much because it's not a big deal to make them change their minds).

Talking to a bunch of atheists doesn't hold much value, especially with how they tend to glorify their own thinking over that of the majority which happens to prefer a government with strict Islamic laws.

I agree. Making conclusions after talking to several people is not a good practice. Thanks for pointing this out!

Secondly, there are Iranian reformists who, according to wikipedia, "support former President Mohammad Khatami's plans to change the Iranian political system to include more freedom and democracy." And those people are not sitting in jails, they are sitting in the Parliament, occupying 103 seats out of total 290(36%). There are Ministers among them, 7 / 18(39%), and Vice Presidents, 5 / 12(42%).

It's safe to say that in these countries democracy is nothing more than a hoax. It won't ever work and I think we should allow them to continue to rule their countries with iron fist, all to suppress terrorist organizations.

But actually it worked at one point. Look how female students at Tehran university looked in 1971:



And here're some images from the pre-revolution Iranian magazines:





I think there are many progressive thinking people in Iran who would welcome more freedom and democracy, and others, as I said before, can be easily overpersuaded.

Look at how democracy was meant to help Libya become a more stable country, but all it did was turn that country in a near lawless war zone. How about Turkey? Do you think their form of "democracy" helped people there?

Yes, I do. I have visited Turkey twice. Once I was in Istanbul and then I visited Marmaris couple of years later. And I can tell you that those two cities are more "European" than some cities in Europe. Check out these videos for example:

https://www.youtube.com/watch?v=GoIIwZvXLwQ

https://www.youtube.com/watch?v=lkP5UNzWElw

[aso118]

Iran would be better of by allowing cryptocurrencies. With Trump pulling out of the accord with Iran and threatening companies which do business with Iran, cryptocurrencies provide a way out. Iran would only be shooting itself in its foot by banning cryptocurrency transactions. It has bigger worries than a few of its people using bitcoins to launder money.