The newly formed Iranian Blockchain and Cryptocurrency Association (IBCA) began operating under the oversight of the Iranian Chamber of Commerce, Industry, Mining and Agriculture (ICCIMA).
IBCA is the first ICCIMA-related organization to tackle blockchain, mining and cryptocurrency issues in Iran. About its launch
announced Association Board Member Mohammad Reza Sharafi, who expressed hope that IBCA will be able to remove the obstacles faced by cryptocurrency companies and apply blockchain to the benefit of Iran’s economy.
“There are many issues related to the development of innovative technologies in Iran. A concerted effort has been made to maximize the economic benefits of this sector. We need to work closely together to ensure that the potential of technology is harnessed without monopolizing it. ”
A spokesperson for the organization added that ICCIMA had granted permission to form the new group last year. However, the launch was delayed for various reasons. Mohammad Sharafi is convinced that working under the supervision of the chamber of commerce will create opportunities to address key challenges in the sector, in particular those related to regulatory requirements. The IBCA will serve as the recently disbanded Iranian Blockchain Industry Association (IBA).
IBA, founded in 2017 as a non-profit, self-governing society of entrepreneurs, experts and activists involved in the development of fast-growing technologies, was closed in June this year by the Iranian Ministry of Internal Affairs. The organization was accused of violating its own charter after Iranian MP Rahim Zare accused nongovernmental cryptocurrency companies of transferring foreign currency funds outside the Islamic Republic. IBA rejected these claims, which were not supported by evidence. After that, its activities were suspended.
Amid uncertainty about cryptocurrency regulation in Iran, the head of the former blockchain association (IBA) Abbas Ashtiani said in early November that regulators are not qualified enough to create an effective regulatory framework.
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