Central Bank Of Iran Warns About Cryptocurrencies

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Central Bank of Iran (CBI) has warned against the risks that can be seen in cryptocurrency trading. The Central Bank of Iran said that users would be responsible for possible losses.

The Central Bank of Iran made statements about cryptocurrencies. According to the Fars News report, the bank said that there may be losses in transactions with cryptocurrencies due to price instabilities.

CBI states that it will not have any responsibility for risk-taking cryptocurrency trading.

In addition, the Central Bank of Iran stated that in order to make payments with cryptocurrencies under certain conditions, cryptocurrencies produced by licensed miners should be used. With this measure, an advantage against US sanctions is expected.

Imported goods will be purchased with cryptocurrencies

Central Bank of Iran announced on April 24 that financial institutions can pay for imported goods and services with cryptocurrencies. Authorized banks and exchange offices in Iran will be able to use cryptocurrency to pay for imported products and services.

However, the Central Bank of Iran obliged to use only cryptocurrencies produced by licensed miners in Iran for this transaction.

In addition, the Central Bank of Iran says it is planning to issue its own digital currency.

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