On January 28, the Tehran Times reported that Iran was in talks with eight countries regarding the implementation of its national cryptocurrency, as reported by the CoinTelegraph news agency.
On Monday, January 28, the local daily Tehran Times published an article about the beginning of negotiations between the Iranian authorities and representatives of the financial sphere in eight countries of the world. According to information in the Tehran Times, negotiations are dedicated to the cryptocurrency of the Iranian Bank (digital rial) and the possibility of using it for cross-border settlements and operations.
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Iran negotiations and cryptocurrency rial
According to the publication, Iran has already entered negotiations with Switzerland, South Africa, France, Britain, Russia, Austria, Germany and Bosnia. The article also stated that country representatives have already visited Iran to discuss this issue.
The topic of the name of cryptocurrency and its origin was not disclosed. However, in the subtext, it is assumed that this will be a digital version of the rial, which will be supported by the rate of the national fiat currency. The Tehran Times notes that the negotiations on cryptocurrencies were conducted in orderOrder
– automatic application to buy or sell cryptocurrency. Orders are used during trading on the stock exchange to open and close a position. Details to circumvent the current US sanctions against the country. The heated situation, as well as the constant increase in sanctions, are the main reason for creating an Iranian digital coin.
Recall that in November 2018, US President Donald Trump fully restored all Iranian sanctions, which were relaxed in 2015, with the goal of reducing the use of Iranian oil in the US
This week, the Iranian authorities have already reported in the possible "debut" of state-supported cryptocurrencies at a conference on electronic banking and payment systems in Tehran.
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Iran has begun negotiations with 8 countries on the use of cryptocurrencies. Recall that Iran is not the only country that sees cryptocurrency as an effective way to circumvent sanctions. Venezuela has also developed a national currency supported by oil, Petro, to revive the economy and avoid the restrictions imposed by the US and the EU.
Editor: Alyona Nabok