Amid the uncertainty of cryptocurrency regulation in Iran, the head of the local blockchain association (IBA), Abbas Ashtiani, said that regulators are not qualified to create an effective regulatory framework.
The association is concerned that the government and the Central Bank of Iran (CBI) are inactive regarding the development of legislation to regulate cryptocurrencies and
ready to offer your help. During a press conference this week, the head of the IBA proposed the creation of an “independent advisor” to study and develop the legal framework for regulating the industry.
“We need a special council of representatives of government agencies and private enterprises to develop rules for cryptocurrencies. The CBI and other regulators are not qualified to set the rules for cryptography given the multidimensionality of the problem. ”
Abbas Ashtiani Abbas Ashtiani believes that the Iranian government does not have a clear plan to regulate the industry. He stressed that a roadmap for the crypto industry amid the growing interest in mining and trading cryptocurrencies is not enough, a clear plan for regulating cryptocurrencies is needed.
The head of IBA warned that the inaction of the authorities regarding cryptocurrencies has become a source of concern for investors. The previous government had plans to regulate the industry, but the administration of newly elected President Ebrahim Raisi does not. The head of IBA believes that the authorities are so frivolous about cryptocurrencies that they have not yet been able to hold a meeting of legislators and regulators. At the end of his speech, Ashtiani stressed that the Iranian Blockchain Association understands the problems of the government. The association is ready to help develop rules that minimize the illegal use of cryptocurrencies and ensure the development of the industry.
The position of the government in relation to the regulation of cryptocurrencies cannot be called lack of initiative, but rather hesitant. Last summer, the President of Iran banned mining in the country, but after three months, licensed companies receive permission from the authorities to mine cryptocurrencies in Iran.
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