It is being discussed in Iran to finance car imports with cryptocurrency mining due to hyperinflation in the country.
Speaking to the local media on the issue, Gholam Hossein Mozaffari, CEO of the Kish Free Zone Organization, stated that he hopes to reach an agreement with the central bank to meet the money required for imports from the crypto coins mined in Iran.
Mozaffari also said that the central bank was told that the funds required due to inflation and economic situation in the country cannot be provided by the central bank and said, “Our next proposal is to use digital currency that is produced in free zones, whose origin and amount is known, and which does not put any pressure on the country’s currency. payments were made, ”he said.
In Iran, which was stated to have increased by 30 percent in inflation about 3 weeks ago, the main reasons for this situation are US sanctions, insufficient economic management and corruption.
Digital money solution to the car problem
According to Mozaffari, crypto money is already being mined in Kish Island. The Free Zone CEO states that he will meet with the President of the Central Bank of Iran as soon as possible and discuss the financing of imported cars in this way. Mozaffari also stated that he will discuss with the private sector about the establishment of a crypto currency exchange:
“If the Central Bank allows this, it will be possible to import cars for these three free zones in digital currency and the car problem will be solved in this way.”
As you will remember; In the era of hyperinflation, the Iranian government had begun to allow cryptocurrency mining under certain restrictions to bring in much-needed foreign capital.
In May, President Hassan Rouhani instructed the government to create an updated national approach for this growing industry.