Bitcoin Global News (BGN)
September 05, 2018 -- ADVFN Crypto NewsWire -- There is now
actually a country out there that has not only publicly called
Crypto and Crypto mining legitimate industries, it has also
announced legitimate plans for a regulatory framework for all
Crypto related business ventures.
The tricky part is, the country in
question is Iran.
Furthermore, contrary to reports
like the one published by Cointelegraph
today on the subject, the status of Crypto in Iran is a
bit more complicated than the entire industry being generally
accepted as viable by the country as a whole.
In trying to puzzle out the truth
of this matter, the logical first question to ask is: what facts do
we truly know?
Firstly, we know that the most
important government agencies have accepted Crypto mining as a
legitimate industry and therefore a legitimate endeavor.
According to Cointelegraph’s
article, these agencies are: the Ministry of Information and
Communications Technology, the Central Bank, the Ministry of
Industry, the Ministry of Energy and a few others like the Ministry
of Economic Affairs and Finance.
Overarching all of these agencies
is apparently the Iranian National Cyberspace Center, which is
effectively acting as the point agency on this issue in that it is
developing what will be the country’s future framework for
cryptocurrency mining regulation.
While all of this is going on, Iran
is apparently considering a move analogous to what Venezuela has
been doing with Petro. In other words, they are seriously thinking
about launching their own version of a national
cryptocurrency.
Given that the country is similar
to Venezuela due to the fact that it is experiencing a particularly
high inflation rate, this does seem to be a likely move for them to
make in an attempt to peg something new to their failing
currency.
As with Venezuela’s efforts,
however, using a national Cryptocurrency is a risky endeavor at
best, simply due to the rampant volatility of the space at this
time.
Over all, in discussing all of
this, we have discussed all of the facts on this situation, at this
time. Because this is true, the conclusions that we can make now
are shaky at best, beyond the fact that Iran is taking the Crypto
segment of the Blockchain industry very seriously.
As time goes on, we will see just
how seriously, especially when they choose whether or not to launch
what will hopefully not be an Iranian version of the Petro.
According to a report a few days ago by
Cointelegraph, a draft of said
currency has already been prepared, so we might not wait
that long at all.
By: BGN Editorial Staff
News:
Iran
Cryptocurrencies