Iran also wants to legalize crypto

[aysg76]

Just after El Salvador has made Bitcoin as legal tender in the country and making Bitcoin as reserve assest some other countries are also planning the same.As per the latest reports the next nation to join the list is Iran.They are planning to introduce legal framework for cryptos although the Bitcoin mining activities are suspended there just for four months due to electricity blackout.

Iranian President "Hassan Rouhani" has asked his government to start working on a framework to regulate cryptocurrencies like Bitcoin.He has warned residents also against unprofessional or scam projects and to stay away from them as he addressed the economic board meeting.

How will Bitcoin help them?Here are some of the facts:

The US has imposed CAATSA (Countering America's Adversaries Through Sanctions Act) on the country, preventing American companies from doing business with sanctioned entities. However, the economic sanctions place Iran in a spot since companies allied to the west are bound to avoid it, creating a ripple effect that severely affects Iran's international trade.
The country also stands primarily disconnected from the global banking system as trade via the American dollar is restricted. It's widely known that the dollar is the de facto international currency and exerts maximum purchasing power. With such extreme conditions, Iran has open-heartedly welcomed the cryptocurrency revolution.

With nearly 4.5% hasrate of Bitcoin mining Iran is one of the best place for miners along with cheap electricity and how amazing it is if government also allows usage of Bitcoin and other cryptos giving them legal status.They are solving their economic Conditions as well with Bitcoin which is main motive of most of the countries.

Source : Iran to legalize crypto like Bitcoin

So it's a another boost for btc becoming mainstream and adopted by government around the globe.

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[ILuckyGuyI]

El Salvador succeeded in being the first country to accept Bitcoin as legal tender. And many countries are following it right now (like Latin American countries). And now, Iran is also preparing to join them. It is really good to see for the benefit of Bitcoin adoption.

[electronicash]

like they say its going to have a domino effect. iran must be preparing this regulation when they ban the mining. so when it resumes after 4 months, the government also comes in to mine btc?

this country is rich but had been bombard with sanctions so this must be a revolution against US. middle east countries and latin countries using BTC will really be a good sign.

[Dhoe]

after el salvador legalized bitcoin, now other countries are starting to consider legalizing bitcoin, iran president said ask krypto to have a legal framework, currently iran is looking for a way to introduce a legal framework for crypto, while bitcoin mining still remains under embargo in the country . Let's wait and see who else will follow El Salvador's steps..

[Sterbens]

look at El Salvador when you have dared to speak out loud, then gradually all countries will continue to flock to follow. I believe this is a great start for El Salvador, because then El Salvador is the official pioneer of Bitcoin payments in the world.

apart from the existence of Iran which is often accused of Bitcoin transactions closely with acts of terrorism, I don't think that's a strong reason. when Hassan Rouhani has agreed, there will be no more obstacles because with his power they are ready.
this needs to be used as an example for other countries to continue to consider the adoption of payments with crypto.

[Kittygalore]

Didn't they ban bitcoin? And now they want to legalize it? I knew it that Iran has a hypocritical government, they ban Twitter but their leader has an account. It seems that bitcoin shows a person's true colors.

[aysg76]

Didn't they ban bitcoin? And now they want to legalize it?

They only put a temporary ban on Bitcoin related mining activities not on Bitcoin usage as a whole.And the ban was also of four months as i have stated it early also which will end in September this year and mining farms can activate at that time only the regulated ones.The mining which is not under Iran supervision might be Still carrying on with mining operations.

[tranthidung]

like they say its going to have a domino effect. iran must be preparing this regulation when they ban the mining. so when it resumes after 4 months, the government also comes in to mine btc?

Personally, I see no domino effect for nations. Each nation has different situations and issues to solve. Accept or reject Bitcoin/ cryptocurrency is or isn't their priority.

No one can prevent governments to mine Bitcoin if they can find supplies and buy ASICs.

With uncertainty of politics, I can not trust on any governments and their polices. They can change their policies or at least change their public announcements after one night. Mining Bitcoin is not bad idea for nations that are suffered serious sanctions such as Iran, North Korea. They have nuclear power and what they are lack of is only ASICs. Setting up mining farms and power supplies are not matter with them.

[Kelvinid]

Didn't they ban bitcoin? And now they want to legalize it? I knew it that Iran has a hypocritical government, they ban Twitter but their leader has an account. It seems that bitcoin shows a person's true colors.

I just remember a while ago that Iran bans Bitcoin mining but it doesn't mean that they are totally banned for it, just a temporary band. Maybe they just lifted the ban and might the news if right.

https://www.theverge.com/2021/5/26/22455264/iran-cryptocurrency-mining-ban-annual-summer-bitcoin-spies

Though I was not a citizen in this country I was happy to hear this news and it was a step for a greater market response, I assume that their people are also happy with this.

[pinoycash]

El Salvador succeeded in being the first country to accept Bitcoin as legal tender. And many countries are following it right now (like Latin American countries). And now, Iran is also preparing to join them. It is really good to see for the benefit of Bitcoin adoption.

Its one big step towards massive adoptions, Since iran does not belong to any monetary club in the world like worldbank and IMF, So they can use it as a legal tender without suffering from any financial blockage from those agency although there are already an active embargo on iran from US.

[pinggoki]

Good to know that another country is trying to legalize cryptocurrency. This is probably a piece of positive news for us now especially that a certain country wants legalization of cryptocurrency as they may see the positivity on the side of crypto although the market today is kind of down still some countries still manage to adopt the situation. Just like what many says it is one big step to reach our dream on a massive adoption.

[Jawhead999]

It's will be pretty hard for Iran to legalize Bitcoin, unlike El Salvador it's a small countries, the most homicide rate and never ban Bitcoin. I'm not saying Bitcoin is only for criminal usage, but often many article talking about Bitcoin is use for criminal... Which is El Salvador government wouldn't mind about the criminal rate because their countries already has the most criminal rate before adopting Bitcoin as legal tender.

On 2018 Iran banks banning Bitcoin usage and 1 month ago Iran is banning Bitcoin mining, if Iran will accept Bitcoin as legal tender... There's really a huge change of Bitcoin environment, because it makes a countries which banning Bitcoin (even though not full ban) and after unban, they legalize as legal tender.

[ven7net]

This is very important news for the entire crypto community. After El Salvador's adoption of Bitcoin as the main currency, other countries that are highly dependent on the US dollar will also switch to crypto. Irina is another country that suffers from a number of sanctions and restrictions; BTC and other cryptocurrencies may well be suitable for Iran to solve its problems. This will allow you to bypass sanctions and trade with other countries bypassing the US dollar. As we can see, the trend for the adoption of crypto in the world is gaining momentum and very soon all this will lead to a new even greater growth in the price of BTC and other cryptocurrencies.

[Oneandpure]

Very good news after El Savador last day announce about bitcoin become legal currency transaction payment and now Iran allow what have El Savador did to make bitcoin become legal transaction, get bad relationship between United State and Iran become why the want to make bitcoin as legal currency transaction to get against with USDT.

[Questat]

It is a good decision as I think. And I'll give them support as they are wanting for their people to have peace of mind and an opportunity for their people to make money out of this. We have one goal and that to legalize Bitcoin and consider this as another form of currency.
Anyway,
I just hope that this is not just a rumor only but this gonna be in reality. Yes, it can't be done in one day but I was looking forward to seeing this becoming true.

[dkbit98]

Now they want to make Bitcoin ''legal'' and just few weeks ago they banned all mining during summertime, and they made some ridiculous rules that only Bitcoin mined in Iran can be used, that would mean that all BTC mined in other countries would be illegal for them.
We are maybe slowly entering the zone of countries making wars and threats because of Bitcoin and regulations around it, the same way it was done with gold, oil and other assets in history.

[sapnu]

This is another big news follow the El Salvador's legalization of crypto within their nation and offering free citizenship for crypto enthusiasts. Lately, crypto mining was banned in Iran but now they are planning to allow crypto to be operated within their territory, it might be a huge upside down turn of event but maybe there's a reason behind it. There are a lot of people who use crypto in Iran that will definitely benefit from this, also it may encourage more people to start investing in crypto as it gets legalized in there.

[BrewMaster]

it seems like countries with less corrupt banking systems are adopting bitcoin a lot faster than the developed countries that have such corrupt banking systems that keep slowing down bitcoin adoption in their countries. the sanctions are the catalyst to speed up that adoption.

[Candied Haws]

I hope China do like this.

[serjent05]

Didn't they ban bitcoin? And now they want to legalize it? I knew it that Iran has a hypocritical government, they ban Twitter but their leader has an account. It seems that bitcoin shows a person's true colors.

Probably they have seen the advantage of adopting Bitcoin to their economy.  The much positive impact probably is one of the reasons why Iran is turning 180 degrees from a Bitcoin hater to a Bitcoin-friendly country.  This is one of the good news that the market is badly needed.  After lots of FUD in the past days, this news is a breather.

[speedy963]

It's really nice to see that what was once just a dream of satoshi nakamoto that was carried on by every crypto enthusiast in this industry is now slowly coming into fruition thanks to opem minded people like the leader of El Salvador. And now, Iran is on its way to being the second county to also fully legalize the use of bitcoin along with all the other cryptocurrencies in this industry. I still wish though that they wouldn't stray to far from their actual problems at the moment. Because people are still suffering there.

[capcaypro]

any country that wants to adopt bitcoin as a legal payment I fully support this decision. both Iran has planned this, for sure the impact of El Salvador's policies has opened the world's eyes to their paradigm towards crypto.

[livingfree]

Aren't they the ones that have imposed temporary ban on bitcoin because of power interruption? if they're going to legalize crypto, this is a good news then.

That's what we want to see for each country, to adopt cryptocurrencies. They might not be as quick as El Salvador for the application of the law but as long as it goes through a process, this is going to be a huge contributor to the market.

[Viscore]

Aren't they the ones that have imposed temporary ban on bitcoin because of power interruption? if they're going to legalize crypto, this is a good news then.

That's what we want to see for each country, to adopt cryptocurrencies. They might not be as quick as El Salvador for the application of the law but as long as it goes through a process, this is going to be a huge contributor to the market.

Iran has followed the path of El Salvador, and if this proposal will be granted, i think this will contribute much for the crypto market to be back in normal and even bullish. Countries who aim for economic conditions to improve like Iran are now getting interested in bitcoin and must have seen its potential earlier.

I wonder if Iran will start accepting bitcoin, i think their own medium of exchange will be thrown little by little. People are now looking for more convenience in currency and bitcoin is definitely their best choice.

[Yogee]

it seems like countries with less corrupt banking systems

Wait...they have a banking system? Hehe.

...I still wish though that they wouldn't stray to far from their actual problems at the moment. Because people are still suffering there.

You've read about the economic sanctions in the main post so using another currency that's free from censorship is one of the many steps they need to solve the country's financial problems.

[livingfree]

Aren't they the ones that have imposed temporary ban on bitcoin because of power interruption? if they're going to legalize crypto, this is a good news then.

That's what we want to see for each country, to adopt cryptocurrencies. They might not be as quick as El Salvador for the application of the law but as long as it goes through a process, this is going to be a huge contributor to the market.

Iran has followed the path of El Salvador, and if this proposal will be granted, i think this will contribute much for the crypto market to be back in normal and even bullish. Countries who aim for economic conditions to improve like Iran are now getting interested in bitcoin and must have seen its potential earlier.

Countries that adopt bitcoin will truly contribute to the market.

Demand will get higher and I think this is where it is all going to start that the high prices that we've been speculating. The increased adoption rate and knowing that it's not just a company but a country itself that shall adopt bitcoin, that makes sense.

I wonder if Iran will start accepting bitcoin, i think their own medium of exchange will be thrown little by little. People are now looking for more convenience in currency and bitcoin is definitely their best choice.

There were mining facilities there so they're fine going to accept it or there's already a bitcoin market that lies there.

[CryptoStar19]

it seems like countries with less corrupt banking systems are adopting bitcoin a lot faster than the developed countries that have such corrupt banking systems that keep slowing down bitcoin adoption in their countries. the sanctions are the catalyst to speed up that adoption.

The funny thing is that first world countries of today are really putting themselves at a disadvantage by not adopting bitcoin as quickly as third world countries... time will prove this. There will come a time when sovereign treasuries will hold bitcoin and the fact that the poorest countries of the current world are the first to get in on this is going to be a greatly equalizing factor that is going to contribute to the reversal of the current world economic power balance.

[lalabotax]

Good to know much more good news re spreading like this. After how popular the news of El Salvador, maybe Iran is now also very supported by the crypto community. The decision of certain countries to legalize crypto may involve several considerations and also consider that Crypto is not the financial system threat.
So far, we are expecting this kind of good work again. No matter what, Iran maybe not a big influence, but with this news, I really hope that many more countries will be following.

[Twinkledoe]

Aren't they the ones that have imposed temporary ban on bitcoin because of power interruption? if they're going to legalize crypto, this is a good news then.

That's what we want to see for each country, to adopt cryptocurrencies. They might not be as quick as El Salvador for the application of the law but as long as it goes through a process, this is going to be a huge contributor to the market.

Yes, they are. You can check also below article.

https://www.theblockcrypto.com/linked/106095/iran-bans-crypto-bitcoin-mining-until-september

And now, they want to legalize the use of crypto. This is actually good news for their crypto users. They easily changed their approach on crypto, however,  I believe, the ban of crypto mining will still push thru up until this september.

[livingfree]

Aren't they the ones that have imposed temporary ban on bitcoin because of power interruption? if they're going to legalize crypto, this is a good news then.

That's what we want to see for each country, to adopt cryptocurrencies. They might not be as quick as El Salvador for the application of the law but as long as it goes through a process, this is going to be a huge contributor to the market.

Yes, they are. You can check also below article.

https://www.theblockcrypto.com/linked/106095/iran-bans-crypto-bitcoin-mining-until-september

And now, they want to legalize the use of crypto. This is actually good news for their crypto users. They easily changed their approach on crypto, however,  I believe, the ban of crypto mining will still push thru up until this september.

Thanks.

A good news indeed.

More and more countries are looking into bitcoin and making it legal so that there's no problem with their citizens having their source of income in the form of cryptocurrencies.

If a country like Iran who has imposed a temporary ban on bitcoin mining then those countries that have banned it might also change their ways.

[nurilham]

Just after El Salvador has made Bitcoin as legal tender in the country and making Bitcoin as reserve assest some other countries are also planning the same.As per the latest reports the next nation to join the list is Iran.

I am not surprised if some countries try to follow El Salvador. This is already a big issue nowadays and another country wants to take advantage as well. If no bad news about Bitcoin on EL Salvador, surely more countries will consider following El Salvador. Iran is the first country that probably follows El Salvador and may decide the Bitcoin also as a legal tender. In the next few days or weeks, don't be surprised if countries like Japan, Switzerland, Malta, or Singapore to follow as well.

[Hippocrypto]

On this kind of news, probably it'll give us hope in the first place as time pass by. The main stream media provides everyone a confident to entrust their future again for bitcoin, but with strong dedication to pursue.
Middle east county like Eran is one of the wealthy country because of oil production, and definitely it's a good key to also help bitcoin soar in the future in order to hit another ATH again.

[KeikoKitagawa18]

Wow this is another good news for another country, i hope the more country will follow the El Salvador move so it can make the price of bitcoin rise again. And i hope in the end of this year the price of btc can reach more than $100k.

[DatKing]

El Salvador is like it has opened a new era.    Many countries are on the line to make Bitcoin legal tender. This is gonna be recorded as one of the biggest events in Bitcoin history I think.

[iTradeChips]

like they say its going to have a domino effect. iran must be preparing this regulation when they ban the mining. so when it resumes after 4 months, the government also comes in to mine btc?

this country is rich but had been bombard with sanctions so this must be a revolution against US. middle east countries and latin countries using BTC will really be a good sign.

I am slowly imagining that the first countries that will adopt bitcoin are the ones who does not have close ties with the west. El salvador in my opinion is not a country that is close to the United States much less Europe though the International Monetary Fund has given a statement about the move making Bitcoin a legal tender in their country. Also to take note of is the fact that the company that is partnered with El salvador in realizing its cryptocurrency goals is a western company also though western only because of its owner. So if Iran is next in the mass adoption of Bitcoin, whose country is next?

[Prettyjing34]

The practice of these countries is a symbol of a trend. There are more and more countries, and more and more people believe in cryptocurrencies. This is a manifestation of the progress of Bitcoin, which shows that Bitcoin has a strong vitality and makes us a trustworthy means of storage.

[thecodebear]

But does "legalize crypto" mean just draw up a regulatory framework around it, or does it mean make it legal tender like El Salvador did? I'm guessing it is the former and not the latter. Probably just means the government will officially set out laws to allow Bitcoin and regulate it (as opposed to not giving guidance or banning it), but it won't actually be legal tender. I'm sure thoughj we will see nations in due time follow El Salvador's lead.

[Rajamuda]

Let's see in the future, how the world responds to bitcoin after that's proven. Bitcoin has increasingly being considered as a positive thing and had been a good role in economic life, of course this is one of the countries that has considered that it can indeed advance its people to a better economic life.

[maxreish]

Hope this good news will eventually affect crypto market's performance. Layely, the news arent that good recently and the price dumps continuosly. Hope other countries will legalized bitcoin too like Iran did. This is to boost not only one's economy but to also improve the system and technology.

[Ararbermas]

Didn't they ban bitcoin? And now they want to legalize it? I knew it that Iran has a hypocritical government, they ban Twitter but their leader has an account. It seems that bitcoin shows a person's true colors.

actually they don't ban bitcoin within the country wherein its the mining itself not bitcoin, reason that they decided to implement an authorization for those who want to continue the activities.. And now they want to legalize bitcoin which a good news and it will have an huge impact as they are ripe with bitcoin adaption, so for sure this can give a big contribution like what always happen when other countries as well legalize such activity and etc..

[Anonylz]

But it is unlikely that they will be able to do it as successfully as El Salvador.

Why won't they? It is all about setting the motion for legalising crypto and then device a means of putting them into practice,  am not sure the size of Iran but I believe not among the biggest countries in the world, it shouldn't be a problem putting it into practice if they are determined,  or perhaps they can study that of El Salvador's process of legalisation and come up with what will work for Iran  

[SFR10]

I was expecting and hoping for this to happen a lot sooner... Not sure why he chose to do such a thing at the end of his term; The timing of such a move doesn't make much sense to me ^{[I'm probably missing something]}.
^{- If this really happens, then it'll be great news for all of the BTCitcoiners in Iran, but there's still the risk that the next president might impose something else [hopefully not].}

[enhu]

Iran has a good number of miners which the government could make money of. This is a source of money for them as well. El Salvador had already did a great impact on the countries that wants independence.

The IMF had discouraged countries from doing the same thing but it's not stopping Iran. It made them panic when institutions come into crypto. Now it's bigger than the institutions like the government of a country itself.

[ropyu1978]

Iran also wants to legalize bitcoin, maybe Iran has realized that bitcoin can make the Iranian people's economy develop, Iran wants to follow El Salvador's steps, hopefully with them legalizing bitcoin, their economy will be better, and can reduce unemployment in their country.

[newwest]

Let's see in the future, how the world responds to bitcoin after that's proven. Bitcoin has increasingly being considered as a positive thing and had been a good role in economic life, of course this is one of the countries that has considered that it can indeed advance its people to a better economic life.

Yes we want to see more and more countries to start legalizing and making use of it. These will give more business and employers the opportunities to have business around crypto and also start accepting payment in crypto for their good and services.

[nightxglow]

It's always nice to hear about countries or companies accepting bitcoin, since it means that we're one step closer to make bitcoin more common in the society. I hope more and more countries will follow and start to support bitcoin, if they are not ready to legalize it yet, at least they try not to ban bitcoin. I hope bitcoin become more common and easy to be used in daily life.

[molsewid]

It's always nice to hear about countries or companies accepting bitcoin, since it means that we're one step closer to make bitcoin more common in the society. I hope more and more countries will follow and start to support bitcoin, if they are not ready to legalize it yet, at least they try not to ban bitcoin. I hope bitcoin become more common and easy to be used in daily life.

You're right about it mate, it's always good to hear that there are those countries which are open handed to accept bitcoin as one of the legal tinder in their country. It doesn't mean that when bitcoin will be legally implemented in a certain it will going to replace fiat but instead it is only one of the circulating currency in the economy and the choices are still on the constituents of the country of what currency they going to use. I do hope that this wonderful news could also bring a great and positive feedback to bitcoin despite of the sudden huge dropped of bitcoin's market demand which due to other circumstances that really affect the price.

[22bits]

Hopefully Iran will also follow suit as is suggested.  I think that there is starting to be a backlash against fiat currencies and the 'race to the bottom'.  I mean it makes sense for countries to try to follow a different path at this point, especially if there economy doesn't rely on depressing the currency to make manufacturing costs low (like China).  Let's see who follows on next....

[AniviaBtc]

El Salvador succeeded in being the first country to accept Bitcoin as legal tender. And many countries are following it right now (like Latin American countries). And now, Iran is also preparing to join them. It is really good to see for the benefit of Bitcoin adoption.

Hopefully, this adoption that they are doing will become effective and fast for their economy grow because there are some countries who are not properly regulating it. Therefore, they will end up banning it again and people will leave their country and go somewhere else where bitcoin is legal.

Sometimes, the government is really the hindrance for people who want to invest in cryptocurrency as it is not practical.

I just really don't understand why they don't do something for it to work effectively just like El Salvador.

[hitsnorth]

The process has started. How many countries are gonna do this by the end of the year?

[rhomelmabini]

I don't think that it will be that imminent for them to adopt that easily just because another country done the same. I don't know if this is the predicament of an upcoming surge of price because it was really a boring day trying to keep at the accumulation phase and not yet breaking out.

The process has started. How many countries are gonna do this by the end of the year?

Undetermined but I guess there will be some more countries that may involve in this and hoping this kind of thing circumventing round the crypto space may trigger the price increase.

[Oneandpure]

it seems like countries with less corrupt banking systems are adopting bitcoin a lot faster than the developed countries that have such corrupt banking systems that keep slowing down bitcoin adoption in their countries. the sanctions are the catalyst to speed up that adoption.

Bitcoin advantage can be transparent when payment transaction and corruption community is very easy to know with bitcoin payment and very transparent, but still not many countries agree to adopt bitcoin because they know the effect if bitcoin legal many people move saving money from bank to bitcoin because fluactive price could give more profit later.

[Alert31]

Iran has a good number of miners which the government could make money of. This is a source of money for them as well. El Salvador had already did a great impact on the countries that wants independence.

The IMF had discouraged countries from doing the same thing but it's not stopping Iran. It made them panic when institutions come into crypto. Now it's bigger than the institutions like the government of a country itself.

After Iran what country do you think will follow to legalize crypto? It's really a great news and I hope it can help to boast the adoption and development of cryptocurrency.

[Issa56]

Waw I think this is very good to hear lot's of countries are being to legalize cryptocurrency I believe more countries will still legalize bitcoin which will definitely help bitcoin price. With the kind of things am seeing currently I believe this is the best time to buy bitcoin because I believe the price is still very low which in the next few months bitcoin will have pumped massively and we will never see bitcoin around this price again.

[SoeNan89]

Most likely they want to legalize Bitcoin.  the rule that it was forbidden to mine only last summer, the ridiculous rules they made are a common thing that happens in the world of coin mining.
  Most likely with the presence of bitcoin, many countries will be depressed economically.  Only some of their people can enjoy a lot of money with the world of bitcoin.

[bryant.coleman]

Most likely they want to legalize Bitcoin.  the rule that it was forbidden to mine only last summer, the ridiculous rules they made are a common thing that happens in the world of coin mining.
  Most likely with the presence of bitcoin, many countries will be depressed economically.  Only some of their people can enjoy a lot of money with the world of bitcoin.

The chances are very very low... The national currency (Iranian Rial) is looking extremely weak after all the sanctions and embargoes. Any sort of official recognition to Bitcoin would mean that more and more ordinary Iranians would be rushing to convert their Rial to BTC and the exchange rates will collapse. At the most, I expect the status quo to continue. Hoping for any sort of official recognition from the Iranian authorities doesn't make sense now. But as long as they are tolerating the use of BTC, I am fine with the situation there.

[22bits]

I do seem to recall that the Islamic State wanted to have real 'gold' money, I may be wrong but I think there may be some thinking about getting away from western type fiat currencies, so it wouldn't surprise me if countries like Iran start to embrace the non fiat type cryptos like bitcoin. 

[Hughes_Ryan]

El Salvador succeeded in being the first country to accept Bitcoin as legal tender. And many countries are following it right now (like Latin American countries). And now, Iran is also preparing to join them. It is really good to see for the benefit of Bitcoin adoption.

Countries that are bitcoin-friendly will have very low levels of inflation and corruption. I believe so, although I hope that Venezuela or Iran could be El Salvador's next step.

I hope China do like this.

China has never been a launch pad for bitcoin's value. They just created the ambition to acquire with the largest bitcoin mining rate in the world. FUD always starts in China. Lol

[taufik123]

After El Salvador legally accepts Bitcoin as a means of payment, it is now the turn of the Iranian state who immediately wants to legalize bitcoin in their country. Not without reason Iran wants to legalize Bitcoin, this may be the right solution to overcome the problem of the Embargo from the United States. Iranian President Hassan Rouhani commented on the legalization of Bitcoin, he said to immediately think of a solution and establish a legal basis for the use of Bitcoin and educate the public about cryptocurrency legislation. By conducting proper education to the public, it will certainly protect capital in the crypto market from unprofessional entries.
This is a major step taken by Iran. More and more countries are starting to legalize bitcoin in their countries. It is likely that other countries will follow suit.

[Imran232]

If this things happen then it might be a process to enter other countries government. I think when other countries government saw that those country who make crypto fully legalize their economy growth fast plus they are getting more people in crypto. They are able to reduce unemployment problem in their countries which means their average income per person plus their economic growth becomes faster than before then they will understand and they will start taking step to completely legal bitcoin in their country. It my opinion but others can be different. Thank you.

[CryptoStar19]

Yes it is true that Iran is both banning crypto and wanting to legalize it:

The ban of crypto in Iran has to do with the country's power grid breaking in the capital city of Tehran and elsewhere (power outages multiple times a day) because of so much mining activity and the electric grid and supply not being able to match the demand.

Iran wanting to legalize crypto has to do with the regime's desire to bypass banking and financial sanctions placed on them by the western powers. Basically by using bitcoin they can circumvent bans placed on them from a banking perspective.

[xiboothrezi]

~~ More and more countries are starting to legalize bitcoin in their countries. It is likely that other countries will follow suit.

the legality and clear rules regarding the use of cryptocurrencies will provide a sense of calm to its users. while for people who have not been involved, will definitely feel interested because the government has shown its support.
from this, we can know that cryptocurrency is an innovation and evolution in the financial system that provides many advantages. although there are many pros and cons, if we can use it well it will definitely give benefits, with support from the government it will further increase public trust.

[Shasha80]

After El Salvador legally accepts Bitcoin as a means of payment, it is now the turn of the Iranian state who immediately wants to legalize bitcoin in their country. Not without reason Iran wants to legalize Bitcoin, this may be the right solution to overcome the problem of the Embargo from the United States. Iranian President Hassan Rouhani commented on the legalization of Bitcoin, he said to immediately think of a solution and establish a legal basis for the use of Bitcoin and educate the public about cryptocurrency legislation. By conducting proper education to the public, it will certainly protect capital in the crypto market from unprofessional entries.
This is a major step taken by Iran. More and more countries are starting to legalize bitcoin in their countries. It is likely that other countries will follow suit.

I agree that Iran might take this step because of the embargo from the United States, they want to prove that they can rise economically without
the help of the United States.  The Iranian government must have been monitoring the development of Bitcoin for a long time, and see Bitcoin can
make their economy bounce if legalized it. What Iran did I admit this is good news for the crypto community, because more and more countries are
legalizing crypto, it will make other countries interested in joining. It looks like Bitcoin has started to attract the interest of many countries,
hopefully there will be another good news soon.

[cabron]

~~ More and more countries are starting to legalize bitcoin in their countries. It is likely that other countries will follow suit.

the legality and clear rules regarding the use of cryptocurrencies will provide a sense of calm to its users. while for people who have not been involved, will definitely feel interested because the government has shown its support.
from this, we can know that cryptocurrency is an innovation and evolution in the financial system that provides many advantages. although there are many pros and cons, if we can use it well it will definitely give benefits, with support from the government it will further increase public trust.

Their president isn't as popular as Nayib Bukele but once he publicly announces it he may become one. I'd be hoping really that this coming July with the next Bitcoin conference, he will also announce it. The country has massive electricity and they have a good amount of miners there which they can also run the economy on their own.

If Bukele proves to be good with his decision, many countries will follow and it won't even take years for others to also join.

[jjdub7]

Just after El Salvador has made Bitcoin as legal tender in the country and making Bitcoin as reserve assest some other countries are also planning the same.As per the latest reports the next nation to join the list is Iran.They are planning to introduce legal framework for cryptos although the Bitcoin mining activities are suspended there just for four months due to electricity blackout.

Iranian President "Hassan Rouhani" has asked his government to start working on a framework to regulate cryptocurrencies like Bitcoin.He has warned residents also against unprofessional or scam projects and to stay away from them as he addressed the economic board meeting.

How will Bitcoin help them?Here are some of the facts:

The US has imposed CAATSA (Countering America's Adversaries Through Sanctions Act) on the country, preventing American companies from doing business with sanctioned entities. However, the economic sanctions place Iran in a spot since companies allied to the west are bound to avoid it, creating a ripple effect that severely affects Iran's international trade.
The country also stands primarily disconnected from the global banking system as trade via the American dollar is restricted. It's widely known that the dollar is the de facto international currency and exerts maximum purchasing power. With such extreme conditions, Iran has open-heartedly welcomed the cryptocurrency revolution.

With nearly 4.5% hasrate of Bitcoin mining Iran is one of the best place for miners along with cheap electricity and how amazing it is if government also allows usage of Bitcoin and other cryptos giving them legal status.They are solving their economic Conditions as well with Bitcoin which is main motive of most of the countries.

Source : Iran to legalize crypto like Bitcoin

So it's a another boost for btc becoming mainstream and adopted by government around the globe.

I don't think El Salvador has yet taken this final step towards officially accepting Bitcoin, because a lot of things needs to be done before that. Changing the laws and regulations and to present and adopt everything by the Congress of the country.

However, they have given rise to very positive thinking for change, and many countries are already talking about how they can follow suit. Including Iran, many of the countries in South America are preparing with draft laws and projects in this direction.

Leading in this direction so far are the senators of Mexico and the employees of the government of Panama.
Among those who vote for Bitcoin are also Fabio Osterman and Gilson Marquis from Brazil, Jehudi Castro-Sierra from Colombia, Carlitos Reyala from Paraguay and Francisco Sanchez from Argentina.

[Tristan Bieber]

El Salvador's decision to make bitcoin legal tender is significant. It marks the first time in the world that a country has officially recognized bitcoin and achieved a breakthrough from zero to one.
According to the objective law, there is a first, there will be a second, a third...... It's been reported that officials from countries like Panama have said they don't want to be left behind and are planning to legalize cryptocurrencies, so I think it makes perfect sense for Iran to do this.
No matter how things turn out, we are witnessing history.

[dota2bestplayer]

El Salvador, as the first country to successfully use Bitcoin as a currency, will effectively imitate it in the future. With successful examples, it has attracted much attention. Iran saw the benefits of Bitcoin and came up with ideas.

[kiki8899]

Although Iran has introduced a suspension of Bitcoin mining, it has only been for 4 months, just for the country's electricity consumption. Will it continue to mine when the time is up? See if it will take a new step like El Salvador.

[Mr.sprin]

El Salvador has shown the evidence by legalizing bitcoin in his country, the economy has changed for the better, so it is not surprising if Iran also wants to legalize bitcoin, maybe later many other countries will want to follow in El Salvador's footsteps.

[patientforzhou]

It should have been so, but this move will be good news for Iranian believers. El Salvador has had a great impact on countries that want independence, and Iran also wants to legalize Bitcoin.

[Nora Olin]

Iran has a large number of miners, and the government can make these miners make money. Iran wants to follow in the footsteps of El Salvador to develop its own country's economy and reduce unemployment. I also hope that more and more countries can support the acceptance of Bitcoin and make Bitcoin more common. I don’t know how many countries will do this this year.

[Chato1977]

Just after El Salvador has made Bitcoin as legal tender in the country and making Bitcoin as reserve assest some other countries are also planning the same.As per the latest reports the next nation to join the list is Iran.They are planning to introduce legal framework for cryptos although the Bitcoin mining activities are suspended there just for four months due to electricity blackout.

Iranian President "Hassan Rouhani" has asked his government to start working on a framework to regulate cryptocurrencies like Bitcoin.He has warned residents also against unprofessional or scam projects and to stay away from them as he addressed the economic board meeting.

How will Bitcoin help them?Here are some of the facts:

The US has imposed CAATSA (Countering America's Adversaries Through Sanctions Act) on the country, preventing American companies from doing business with sanctioned entities. However, the economic sanctions place Iran in a spot since companies allied to the west are bound to avoid it, creating a ripple effect that severely affects Iran's international trade.
The country also stands primarily disconnected from the global banking system as trade via the American dollar is restricted. It's widely known that the dollar is the de facto international currency and exerts maximum purchasing power. With such extreme conditions, Iran has open-heartedly welcomed the cryptocurrency revolution.

With nearly 4.5% hasrate of Bitcoin mining Iran is one of the best place for miners along with cheap electricity and how amazing it is if government also allows usage of Bitcoin and other cryptos giving them legal status.They are solving their economic Conditions as well with Bitcoin which is main motive of most of the countries.

Source : Iran to legalize crypto like Bitcoin

So it's a another boost for btc becoming mainstream and adopted by government around the globe.

If Iran will do such then the price of Oil will be lowering i guess? as iran is one of the biggest Oil player in the world.

and also if they do this then we will be seeing more following from the middle East.

[yazher]

El Salvador succeeded in being the first country to accept Bitcoin as legal tender. And many countries are following it right now (like Latin American countries). And now, Iran is also preparing to join them. It is really good to see for the benefit of Bitcoin adoption.

I hope they have some plan on what they implement in their country because some other countries that just want to legalize crypto in their country when didn't meet their expectations, they most backfire and banned it without hesitations. They should know at least consider giving it at least 10-20 years after legalizing it before taking any decision to ban it again. If they will become successful in doing these things, there's no doubt that the other country on their level will follow in their footsteps as well.

[elisabetheva]

El Salvador has shown the evidence by legalizing bitcoin in his country, the economy has changed for the better, so it is not surprising if Iran also wants to legalize bitcoin, maybe later many other countries will want to follow in El Salvador's footsteps.

Of course news like this will bring towards a very positive development, where so far it only heard the news that made Bitcoin's news be bad. So that a very deep correction occurs and it cannot be avoided. There are still many who have not analyzed each news first and immediately took action that actually affected the Bitcoin market.

There is hope that many more do things like Elsavador and Iran, because it is likely to affect many other countries after considering the benefit aspect of only prohibiting and there is no solution that can be done. Because by legalizing at least the get from every transaction that can be taken as tax revenue.

[mr_ROBOTT]

The Rouhani government will be active for only one more week!
If we pay attention to it, usually a president at the end of his presidency removes all restrictions and provides the best services!

What is the reason?

Very clear! When Hassan Rouhani nominates himself in the next 4 years, all the people will re-elect him because of these good conditions, and this is a business policy.
I hope that this pattern will continue by the next president of Iran and that due to the cheap electricity reserves of this country, many digital currencies will be mined in Iran.
provided that the welfare of the people also increases.
With such resources, the situation of the Iranian people should be like Dubai, but they live like Afghans.

[bekti3]

of course this is very good a few months ago i had hoped this incident could happen and now starting from elsavador besides venezuela and now iran has wanted to start this too. I hope that in the future other countries can move like this too because I think this is a very good innovation apart from the country itself, I as the holder of bitcoin also feel the impact

[CryptoStar19]

Iran has the additional motivation (as compared with El Salvador and others) that bitcoin will allow them to bypass financial and banking sanctions placed on them by Western powers.

[DarkDays]

Iran has the additional motivation (as compared with El Salvador and others) that bitcoin will allow them to bypass financial and banking sanctions placed on them by Western powers.

Iran legalisibg bitcoin will be a good thing for sure but I don't know if that will have a major effect on the market considering the state of Iran as a country not being that influential, but a step forward for sure

[nhaila]

A few days ago EI Salvador allowed bitcoin and others cryptocurrencies in the all sphere in daily purposes. They allow daily households activities for exchanging with Bitcoin and cryptocurrencies. It's a good sign for bitcoin. Of iran wants to legalize cryptocurrencies in their economic systems, then it would be another good news for Cryptos.

[dmamigo]

Very good news if this really happens and after El Salvador, if Iran also legalizes cryptos and accepts it for all transactions I think it will boost up more acceptance by multiple other countries but the only factor is that they are not so influential countries to make a huge impact so fast which will invite more countries to accept cryptos as their primary currency or atleast legalize it to remove all kind of ban/block speculations roaming around the market.

[Ziskinberg]

Iran has the additional motivation (as compared with El Salvador and others) that bitcoin will allow them to bypass financial and banking sanctions placed on them by Western powers.

Iran legalisibg bitcoin will be a good thing for sure but I don't know if that will have a major effect on the market considering the state of Iran as a country not being that influential, but a step forward for sure

It is a need for their people to get involve and encourage to use crypto aside from Fiat otherwise, such declaration will just be wasted. If crypto is not popular and they don't have an interest, it finds useless and certainly doesn't have an impact on the market.

Anyway, let's have to see how the people of Iran will take this and consider this as an opportunity. We just never know if they are also waiting for this annoucement before taking a step into the crypto world. I hope it was.

[Kasabus]

A few days ago EI Salvador allowed bitcoin and others cryptocurrencies in the all sphere in daily purposes. They allow daily households activities for exchanging with Bitcoin and cryptocurrencies. It's a good sign for bitcoin. Of iran wants to legalize cryptocurrencies in their economic systems, then it would be another good news for Cryptos.

Positive news like this will contribute much to crypto adoption in the near future. El Salvador has started it all to make bitcoin a legal tender and now Iran  is on its way for bitcoin too. I will not be surprise if in the next days, other countries will glady accept bitcoin too.

I think the target of these countries why they end up legalizing bitcoin is for their economic benefits. And there's no wrong with it. Bitcoin is no longer just an asset today but it will be a good currency soon in general.

[SFR10]

If we pay attention to it, usually a president at the end of his presidency removes all restrictions and provides the best services!

Now that explains its weird timing but isn't it a bit too late for such moves to have any significant impact?
^{- He should've done it last year instead.}

Very clear! When Hassan Rouhani nominates himself in the next 4 years, all the people will re-elect him because of these good conditions, and this is a business policy.

I highly doubt that'll happen... The damage he and his cabinet have caused is quite significant that most people aren't going to completely forget about that stuff, no matter how he'll end it.

I hope that this pattern will continue by the next president of Iran and that due to the cheap electricity reserves of this country, many digital currencies will be mined in Iran.

There's still a big "if", and if resuming the mining process ^{[after the summer]} is going to lead to more power outages, then it won't last long before they decide to come up with some weird rules against BTCitcoin and cryptocurrency mining as a whole; In other words, it'll always end badly for "normal" miners.

With such resources, the situation of the Iranian people should be like Dubai, but they live like Afghans.

I wouldn't compare their living styles with Afghans, but I do agree that the current status/situation should be similar or be better than the Emirates.
It'll be interesting to see up to what extent they'll legalize it, since all of those who are involved in such processes are quite old, and can't fully grasp the importance of cryptocurrency usage as a whole...

[Obito]

A few days ago EI Salvador allowed bitcoin and others cryptocurrencies in the all sphere in daily purposes. They allow daily households activities for exchanging with Bitcoin and cryptocurrencies. It's a good sign for bitcoin. Of iran wants to legalize cryptocurrencies in their economic systems, then it would be another good news for Cryptos.

It's not good news until it finally happens because these are politicians remember? They can break their promises like they are eating briken promises for breakfast. I will only celebrate when all their stuffs that they are proposing is finalized, implemented and used by the public.

[mr_ROBOTT]

If we pay attention to it, usually a president at the end of his presidency removes all restrictions and provides the best services!

Now that explains its weird timing but isn't it a bit too late for such moves to have any significant impact?
^{- He should've done it last year instead.}

Very clear! When Hassan Rouhani nominates himself in the next 4 years, all the people will re-elect him because of these good conditions, and this is a business policy.

I highly doubt that'll happen... The damage he and his cabinet have caused is quite significant that most people aren't going to completely forget about that stuff, no matter how he'll end it.

Creating such conditions for the new government makes Hassan Rouhani introduce himself as a lover of the world of digital currencies. The same person who did not accept the request to remove the Telegram filtering for ^{2 years} at the insistence of the Minister of Communications.
The same person who has not legalized digital currency transactions in these few years.
This is all politics ...

[dothebeats]

It seems that the trend to legalize cryptocurrencies is gaining traction among countries who either have poorly-developed economies or are stricken with economic sanctions imposed by other nations. I will not be surprised if Venezuela would be the next one, although the government there doesn't seem to care much about the plight of the Venezuelans struggling to live comfortably and have to make amends every single day of their lives. Then again, this could just be a move to put forth the idea that Iran is willing to accept change in order to gain supporters. There could be more to this than just accepting crypto for all we know.

[speedy963]

A few days ago EI Salvador allowed bitcoin and others cryptocurrencies in the all sphere in daily purposes. They allow daily households activities for exchanging with Bitcoin and cryptocurrencies. It's a good sign for bitcoin. Of iran wants to legalize cryptocurrencies in their economic systems, then it would be another good news for Cryptos.

 Well yeah, for sure it is a good thing but still, I don't know if Iran will really decide to go through with this since just recently the world bank refused to help nor support the efforts of el Salvador in legalizing crypto currencies. With this, it seems that the world bank is really standing firm with their hate for this industry that they openly humiliated el Salvador. Just when I thought things were going good for el Salvador, then this happened. Still through, the president of El Salvador wouldn't be so dumb to not expect things like this to happen.. oh well, lets see what the president does next.

[ropyu1978]

is it possible that with more and more countries legalizing bitcoin, bitcoin will become environmentally friendly, and bitcoin will grow and be better? el salvador became the first country to legalize bitcoin, then central america followed tanzania, now iran also wants to legalize bitcoin, maybe this sounds good, but we'll see how it develops in the future after several countries legalize bitcoin, is there any development,

[CryptoStar19]

A few days ago EI Salvador allowed bitcoin and others cryptocurrencies in the all sphere in daily purposes. They allow daily households activities for exchanging with Bitcoin and cryptocurrencies. It's a good sign for bitcoin. Of iran wants to legalize cryptocurrencies in their economic systems, then it would be another good news for Cryptos.

It's not good news until it finally happens because these are politicians remember? They can break their promises like they are eating briken promises for breakfast. I will only celebrate when all their stuffs that they are proposing is finalized, implemented and used by the public.

There will be hurdles of adoption as legal tender on a national scale, but eventually these hurdles will be overcome and in time, the process will pave the way for more countries to pursue this path.

[Woodie]

This is good news, at this rate we should see more and more countries making it legal tender.

But I feel we still need more practical use of crypto, like crypto debit cards which actually work without boundaries like crypto is ...otherwise this won't mean much.

[CryptoStar19]

This is good news, at this rate we should see more and more countries making it legal tender.

But I feel we still need more practical use of crypto, like crypto debit cards which actually work without boundaries like crypto is ...otherwise this won't mean much.

While nothing is set in stone, for a country to accept bitcoin as legal tender, it would mean that bitcoin can be used to pay debt... that the majority of commercial ventures would need to accept bitcoin payments... this isn't something that is going to happen overnight and there are many difficulties associated with achieving this in a meaningful way nationally, but should these changes actually be implemented in time, it will mean very much in terms of increasing bitcoin adoption.

Just imagine how much more than currently bitcoin is going to be ingrained in the minds of people and seen by people who may have never heard of it or paid much attention to it if over a period of time bitcoin is accepted as a form of payment in every little mom and pop shop where transactions take place.

[sapnu]

Considering the actions Iran committed before with regards to crypto, we can already tell that the table have turned. It will give a lot of advantage for crypto if ever Iran pursue legalizing crypto within their territory. Iran might have planned to ban crypto before but after witnessing what happened to El Salvador, sudden change of mind to their leader came in mind. We will soon see the effects and outcomes of it and if ever El Salvador becomes successful after legalizing crypto, Iran will soon follow as well as either countries that are aspiring to survive or lift up their economy.

[gabbie2010]

is it possible that with more and more countries legalizing bitcoin, bitcoin will become environmentally friendly, and bitcoin will grow and be better? el salvador became the first country to legalize bitcoin, then central america followed tanzania, now iran also wants to legalize bitcoin, maybe this sounds good, but we'll see how it develops in the future after several countries legalize bitcoin, is there any development,

This is indeed some good news about bitcoin despite the present bearish sentiment of the price, adoption of bitcoin by many countries starting from ElSalvador and Iranian government legalization of BTC is an indication of the future prospect of the coin once other countries follow-suit then bitcoin will continue to enjoy a massive adoption and it price will grow upward thus a massive profits for hodlers and investors, this will also raise the hope and confidence of  buyers who are had been buying dip since this the commencement of the present bearish runs.

[Alanaz]

This is indeed some good news about bitcoin despite the present bearish sentiment of the price, adoption of bitcoin by many countries starting from ElSalvador and Iranian government legalization of BTC is an indication of the future prospect of the coin once other countries follow-suit then bitcoin will continue to enjoy a massive adoption and it price will grow upward thus a massive profits for hodlers and investors, this will also raise the hope and confidence of  buyers who are had been buying dip since this the commencement of the present bearish runs.

I am very happy with the news which I think is very good news and speaking of bearishness I don't really think about this at all because I think this is temporary and it won't be long just waiting for btc to return to normal.
and for the future I think this is a good start starting from elsavador, continue to news about venezuela and now iran is also following this of course very good because indeed the adoption of bitcoin is not only profitable for traders or holders but also the impact on the country itself as well will be very good

[rosebrand]

Good thing for the Iran country the earlier there get to see the usefulness of crypto and work with it the better for them, no doubt in most developing countries where things are a bit difficult for them and also no jobs, crypto stands in to revolutionize such country because with good knowledge about crypto and a good amount of capital surely hard times won't knock at your door easily, this simply means crypto eradicates poverty in the lives of those who accepts it and put in their time and effort in it. More countries will accept crypto whole heartedly, it's just a matter of time.

[ziyaaa]

El Salvador's actions have had a big impact on some countries really. And Iran seems to be one of them also. It was actually not very willing about cryptocurrencies. But it looks like the government has changed their mind about cryptos.

[tiCeR]

El Salvador's actions have had a big impact on some countries really. And Iran seems to be one of them also. It was actually not very willing about cryptocurrencies. But it looks like the government has changed their mind about cryptos.

They have changed their mind about cryptos for the wrong reasons I suppose. When they have to circumvent sanctions the US applied to them, what are you going to do if banks refuse to work with you anymore because they are either US banks or threatened to be excluded from the US market? Hey, what about we start using cryptocurrencies and allow people to do the same over here? Just a possibility of course.

[livingfree]

El Salvador's actions have had a big impact on some countries really. And Iran seems to be one of them also. It was actually not very willing about cryptocurrencies. But it looks like the government has changed their mind about cryptos.

It's just getting started.

As soon as most countries have already seen the potential of bitcoin and can be either their legal tender or great asset, almost other countries are going to follow too.

There's just a need for a rich country that will step on the game will have that announcement that will shock the world and most countries on how positive they are towards bitcoin.

[clint25n]

this is the right step, which is taken by iran. at a time when some countries do not legalize bitcoin. because this is the right step. therefore we are no longer afraid to invest in bitcoin. because there are several countries that have relieved it, and this is a very good news after tanzania and elsavador also legalized it

[Kittygalore]

~

I just remember a while ago that Iran bans Bitcoin mining but it doesn't mean that they are totally banned for it, just a temporary band. Maybe they just lifted the ban and might the news if right.

https://www.theverge.com/2021/5/26/22455264/iran-cryptocurrency-mining-ban-annual-summer-bitcoin-spies

Though I was not a citizen in this country I was happy to hear this news and it was a step for a greater market response, I assume that their people are also happy with this.

That's good that it was a temporary and only a small part of bitcoin that was banned. But my point still stands that they have a bandwagon mentality when it comes to these things, there's no environmental effect, they just want to be on the trending part of the news.

[Vaculin]

El Salvador's actions have had a big impact on some countries really. And Iran seems to be one of them also. It was actually not very willing about cryptocurrencies. But it looks like the government has changed their mind about cryptos.

It's just getting started.

As soon as most countries have already seen the potential of bitcoin and can be either their legal tender or great asset, almost other countries are going to follow too.

There's just a need for a rich country that will step on the game will have that announcement that will shock the world and most countries on how positive they are towards bitcoin.

We are moving to the next level of adoption and it was expected for many countries to adopt and make it legalize. From El Salvador, Iran, and many would come someday.
But I would like to hear the announcement coming from Big countries about legalization as they are more influential than those 3rd world countries. If they are going to finally legalize crypto, the more it encourages others to follow.

[DoublerHunter]

El Salvador's actions have had a big impact on some countries really. And Iran seems to be one of them also. It was actually not very willing about cryptocurrencies. But it looks like the government has changed their mind about cryptos.

It's just getting started.

As soon as most countries have already seen the potential of bitcoin and can be either their legal tender or great asset, almost other countries are going to follow too.

There's just a need for a rich country that will step on the game will have that announcement that will shock the world and most countries on how positive they are towards bitcoin.

We are moving to the next level of adoption and it was expected for many countries to adopt and make it legalize. From El Salvador, Iran, and many would come someday.
But I would like to hear the announcement coming from Big countries about legalization as they are more influential than those 3rd world countries. If they are going to finally legalize crypto, the more it encourages others to follow.

^ It could be, other countries now probably sighting to BTC on how they will be legalized it. The most developed country like the US has been already legalized BTC a long time ago and I think it is time now for most third world countries to follow the step of those big countries who already accepted BTC. Especially those who are in most Islamic countries, they are still thinking that BTC is a big threat to their economy and there will probably money laundering on it. Nevertheless, this is a good sign that those countries that banned BTC will awaken and realized that they are far behind from other countries. For now, it is a big thumps up to El Salvador and in Iran, and we hope those contiguous countries will do the same.

[Btcvilla]

Just after El Salvador has made Bitcoin as legal tender in the country and making Bitcoin as reserve assest some other countries are also planning the same.As per the latest reports the next nation to join the list is Iran.They are planning to introduce legal framework for cryptos although the Bitcoin mining activities are suspended there just for four months due to electricity blackout.

Iranian President "Hassan Rouhani" has asked his government to start working on a framework to regulate cryptocurrencies like Bitcoin.He has warned residents also against unprofessional or scam projects and to stay away from them as he addressed the economic board meeting.

How will Bitcoin help them?Here are some of the facts:

The US has imposed CAATSA (Countering America's Adversaries Through Sanctions Act) on the country, preventing American companies from doing business with sanctioned entities. However, the economic sanctions place Iran in a spot since companies allied to the west are bound to avoid it, creating a ripple effect that severely affects Iran's international trade.
The country also stands primarily disconnected from the global banking system as trade via the American dollar is restricted. It's widely known that the dollar is the de facto international currency and exerts maximum purchasing power. With such extreme conditions, Iran has open-heartedly welcomed the cryptocurrency revolution.

With nearly 4.5% hasrate of Bitcoin mining Iran is one of the best place for miners along with cheap electricity and how amazing it is if government also allows usage of Bitcoin and other cryptos giving them legal status.They are solving their economic Conditions as well with Bitcoin which is main motive of most of the countries.

Source : Iran to legalize crypto like Bitcoin

So it's a another boost for btc becoming mainstream and adopted by government around the globe.

I'm glad to hear this. There are already several countries that legalize bitcoin as a legal currency. This is a great impact for the long future of bitcoin. If only in my country it was also implemented. But I think it will take time because not many people are good at playing technology, especially old people who may still not be able to accept the existence of bitcoin. Because they only know physical money. Hopefully in the future bitcoin can be accepted in many countries as a legal world currency.

[pinoycash]

I'm glad to hear this. There are already several countries that legalize bitcoin as a legal currency. This is a great impact for the long future of bitcoin. If only in my country it was also implemented. But I think it will take time because not many people are good at playing technology, especially old people who may still not be able to accept the existence of bitcoin. Because they only know physical money. Hopefully in the future bitcoin can be accepted in many countries as a legal world currency.

Not all country will adopt bitcoin as a legal currency, Specially the western countries. Since if that happens USD $ will lose its value and bitcoin will become the trade currency of the world so US will not let it happen.

[AicecreaME]

El Salvador succeeded in being the first country to accept Bitcoin as legal tender. And many countries are following it right now (like Latin American countries). And now, Iran is also preparing to join them. It is really good to see for the benefit of Bitcoin adoption.

I agree. It's really nice to see mass adoption slowly happening to bitcoin. After all the bad things that has happened, this is such a breath of fresh air. I can say that El Salvador's move in accepting and making bitcoin as a legal tender in their country really made an impact that pushed other countries to follow what they have started.

Hoping to read and hear more news like this. I know sooner or later, bitcoin will be widely acceptable and used around the world. I'm waiting for it to happen. By then, many people will benefit bitcoin's functionality such as being an alternative currency in transactions and being a store of value.

[tiCeR]

El Salvador succeeded in being the first country to accept Bitcoin as legal tender. And many countries are following it right now (like Latin American countries). And now, Iran is also preparing to join them. It is really good to see for the benefit of Bitcoin adoption.

I agree. It's really nice to see mass adoption slowly happening to bitcoin. After all the bad things that has happened, this is such a breath of fresh air. I can say that El Salvador's move in accepting and making bitcoin as a legal tender in their country really made an impact that pushed other countries to follow what they have started.

Hoping to read and hear more news like this. I know sooner or later, bitcoin will be widely acceptable and used around the world. I'm waiting for it to happen. By then, many people will benefit bitcoin's functionality such as being an alternative currency in transactions and being a store of value.

Really it was a great surprise to see those countries make the first step. That is exactly what I think will happen. The arrogant Western nations believe they can bully crypto holders by making unfavorable rules and laws, but the smaller nations go for that chance and say hey we are crypto friendly, how about you get a residency over here and manage your crypto over one of our countries. We'll see that even more in the near future.

[verita1]

As is our knowledge, bitcoin can help solve any economic situation due to the valid fact that it offers by breaking down barriers.
The country of Iran is interested in bitcoin to seek monetary solutions due to the sanctions it has. I don't know what will happen to bitcoin now that more countries want to join. I only wish that all these inclusions are for the benefit of the citizens of these nations.

Abolfazl Rouhani, Deputy Chief of Iran’s High Council of Cyberspace, recently said that “Cryptos could help the country bypass sanctions in a limited number of cases” while emphasizing that the central bank should come up with a clear approach to this effect.

https://news.bitcoin.com/persian-gulf-island-to-become-crypto-exchange-hub-iran-minister-proposes/

[Golftech]

As is our knowledge, bitcoin can help solve any economic situation due to the valid fact that it offers by breaking down barriers.
The country of Iran is interested in bitcoin to seek monetary solutions due to the sanctions it has. I don't know what will happen to bitcoin now that more countries want to join. I only wish that all these inclusions are for the benefit of the citizens of these nations.

Abolfazl Rouhani, Deputy Chief of Iran’s High Council of Cyberspace, recently said that “Cryptos could help the country bypass sanctions in a limited number of cases” while emphasizing that the central bank should come up with a clear approach to this effect.

https://news.bitcoin.com/persian-gulf-island-to-become-crypto-exchange-hub-iran-minister-proposes/

If there are more countries to legalize this system, like what you have said it's breaking down the barrier

Iran may have more transactions to process using this chain, it will helps the people which they are capable to

manage deals using the online transactions, but always depend from how the government will utilize this system..

[ropyu1978]

it seems like countries with less corrupt banking systems are adopting bitcoin a lot faster than the developed countries that have such corrupt banking systems that keep slowing down bitcoin adoption in their countries. the sanctions are the catalyst to speed up that adoption.

I agree with your opinion, if the Iranian country does not have a corrupt system, I believe the Iranian country will definitely be very developed, with them legalizing bitcoin, I believe their economy will be much better, but if the country is full of corruption, how much they have bitcoin , their country will definitely not progress, and develop, the people are still poor...

[genolica]

How do they project the counter benefits of the economical market in the country? Does it provide good or bad effects? It might hurt non-crypto currency economy I guess?

[Dhoe]

if iran wants to legalize bitcoin in my opinion this is good news, but what is the main reason iran wants to legalize bitcoin,?? If Iran wants to legalize bitcoin, I think other developed countries will definitely criticize Iran, as happened to El Salvador, because the challenges that will be faced are very heavy, because too many countries hate bitcoin.

[geegaw]

if iran wants to legalize bitcoin in my opinion this is good news, but what is the main reason iran wants to legalize bitcoin,?? If Iran wants to legalize bitcoin, I think other developed countries will definitely criticize Iran, as happened to El Salvador, because the challenges that will be faced are very heavy, because too many countries hate bitcoin.

The official goal of Iran is unknown but they are also making things more exciting with bitcoin, they are showing that their activity also related to bitcoin, I don't know what effect this desire will have but the game is getting interesting and needs us to look more psychologically. Challenge the value of bitcoin to a new level or we are becoming a lamb of another form of chaos, Elon Musk's effect has also stemmed from such scenarios and don't rule out the possibility that this is the second scenario and only the main actor is changed

[Gamerholic]

Iran is a country that has long been under sanctions limiting its development, and primarily financial sanctions. Such a step will not only help Iran become a new cryptocurrency hub, but also help bypass a number of restrictions, possibly relieve the financial sector in the country. It is not easy to calculate the consequences far away in the modern world, but one thing is clear - if you are criticized in the West, then you are taking the right steps to strengthen your sovereignty.

[Amejoaquim]

If this really happen it will give a huge impact on bitcoin's reputation as well as its value and i hope the market correction will end verry soon if IRAN really wants to legalize crypto.

[Fire Rabbit]

Yeah, this is really a good news. As far as I know bitcoin and other cryptocurrencies are banned in most of the middle east and arabic speaking nations. In fact I also from middle east and a close nation to Iran. But here it is not legal. Hope our country will also follow the same steps of Iran.

[cheezcarls]

And I also heard that Paraguay might be the next global Bitcoin hub as the lawmaker will be presenting a Bitcoin legislation

Check the source here: https://news.bitcoin.com/paraguayan-lawmaker-bitcoin-legislation-paraguay-global-crypto-hub/

This news coming from Iran is great, but until the China crackdown of Bitcoin mining stops, the new bull run is far from happening!

[SaShiRaJaVu]

The official goal of Iran is unknown but they are also making things more exciting with bitcoin, they are showing that their activity also related to bitcoin, I don't know what effect this desire will have but the game is getting interesting and needs us to look more psychologically. Challenge the value of bitcoin to a new level or we are becoming a lamb of another form of chaos, Elon Musk's effect has also stemmed from such scenarios and don't rule out the possibility that this is the second scenario and only the main actor is changed

The offical goal by Iran and other similar countries should be that they need to overcome the trade and other restrictions imposed upon them by the US and other countries and they can only overcome these by allowing Bitcoin transaction being used for global trade and they could overcome some of these restrictions .

[CryptocurencyKing]

This is where the competition begins, as some nations with large economy decides to be backward with there crypto bans and all, some nations has decided to risk it and go ahead to legalize crypto for as a legal tender in there nation. This is what a nation that puts it's citizens first should look like, they actually focus on what would liberate there individual citizen in place of generating funds that would be pocketed by some greedy politician for some undefined purpose or stolen all in the name of running a project that still won't be completed.

This is a goodness for bitcoiners and I wonder how those that actually take the FUD being spread around, of recent China, serious! Its absurd and shouldn't be that way. So much for having a large economy i guess, large economy,  large influence and so the FUD grows. It's just time and bitcoin would overcome all.

[dzonikg28]

if iran wants to legalize bitcoin in my opinion this is good news, but what is the main reason iran wants to legalize bitcoin,?? If Iran wants to legalize bitcoin, I think other developed countries will definitely criticize Iran, as happened to El Salvador, because the challenges that will be faced are very heavy, because too many countries hate bitcoin.

The official goal of Iran is unknown but they are also making things more exciting with bitcoin, they are showing that their activity also related to bitcoin, I don't know what effect this desire will have but the game is getting interesting and needs us to look more psychologically. Challenge the value of bitcoin to a new level or we are becoming a lamb of another form of chaos, Elon Musk's effect has also stemmed from such scenarios and don't rule out the possibility that this is the second scenario and only the main actor is changed

One of their main goals is to avoid a hierarchical scandal between government and citizens because Iran is allegedly already using cryptocurrencies to circumvent US sanctions. The US put some sanctions on Iran that excluded them from the banking system in relation to certain economic activities. Obviously, there is only one financial system that is neutral, open, borderless, permissionless, etc. In other words, Bitcoin allows everyone to use it for every purpose without asking any questions or censoring any transactions. The problem for governments is that while they want such a system for themselves, they don't want it for their citizens. If it's true that Iran uses crypto to circumvent sanctions, it'd be a great example how unfair the world is when it comes to privileges governments exploit and have over their citizens. That time then obviously is over. It would be ridiculous however if Iran prohibits its citizens from using Bitcoin while using it themselves. They'd be quite embarrassed if someone leaked that data.

[tiCeR]

El Salvador succeeded in being the first country to accept Bitcoin as legal tender. And many countries are following it right now (like Latin American countries). And now, Iran is also preparing to join them. It is really good to see for the benefit of Bitcoin adoption.

I agree. It's really nice to see mass adoption slowly happening to bitcoin. After all the bad things that has happened, this is such a breath of fresh air. I can say that El Salvador's move in accepting and making bitcoin as a legal tender in their country really made an impact that pushed other countries to follow what they have started.

Hoping to read and hear more news like this. I know sooner or later, bitcoin will be widely acceptable and used around the world. I'm waiting for it to happen. By then, many people will benefit bitcoin's functionality such as being an alternative currency in transactions and being a store of value.

Really it was a great surprise to see those countries make the first step. That is exactly what I think will happen. The arrogant Western nations believe they can bully crypto holders by making unfavorable rules and laws, but the smaller nations go for that chance and say hey we are crypto friendly, how about you get a residency over here and manage your crypto over one of our countries. We'll see that even more in the near future.

Agreed. Bitcoin has been a great economic equalizer since the beginning and now we are starting to see that play out at the level of nation-states.

Yes it is a very interesting situation we are going to face here because out of a sudden Bitcoin turns into an asset that the nation states feel obliged to compete for, although driven by different intentions of course.

Give it another five or so years and we will see the real deal enfolding in terms of international political economy. Bitcoin is truly global, Bitcoin is truly political, and Bitcoin is truly neutral no matter what size the entity or what net worth the person is.

[dzonikg28]

Yeah, this is really a good news. As far as I know bitcoin and other cryptocurrencies are banned in most of the middle east and arabic speaking nations. In fact I also from middle east and a close nation to Iran. But here it is not legal. Hope our country will also follow the same steps of Iran.

Are they fully banned in most of those countries, like entirely banned or can you just not mine it or are exchanges not allowed to operate there?

In India they wanted to be very strict and punish everyone who even owns cryptocurrencies. That is unrealistic though. How are you going to ensure that nobody owns cryptocurrencies in a country with 1.4 billion people? lol...

I was afraid they might crack down so hard on just a few that the others are seriously afraid to even possess any, but even then I doubt that effect would prevail for long.

[rodel caling]

Good to hear that Iran accepting bitcoin nowadays.I really believe that bitcoin can help all country  in able to us  in progress.it will help each other for easily transaction for everyone.its should be all government will be openminded and accepting bitcoin as our cryptocurrency and as part of our economic.well as time goes by I see the progress of bitcoin and I know that not only Iran will accept this! In time bitcoin can be use all over the world.as long as their is an electricity.