Iran To Solve Import Problem With Cryptocurrencies


Iran is considering using a digital asset as a payment method for imported vehicle shipments. The initiative was announced by Gholam Hossein Mozaffari, CEO of the Kish Free Zone Organization (KFZO), ArzDigital reports. Mozaffari’s initiative is expected to be made public by the Iranian Central Bank in the near future.

Gholam Hossein Mozaffari used the following statements on the subject:

“We hope that next week our meeting will be coordinated with the head of the Central Bank, and we will follow up on this and request to establish a private sector crypto exchange.”

KFZO CEO also suggested using only digital assets obtained as a result of mining in Iran. Mozaffari believes that with the regulator’s approval, the vehicle import problem in Iran can finally be resolved.

Mozaffari also said in a statement that the issue of automobile imports in the country is a “sad story” due to high costs. Mozaffari, CEO of KFZO, said:

“We will provide the necessary currency, source and amount through the digital currency issued in free zones, and we will not put any pressure on the country’s currency.”

Restricted Mining Was Allowed

In July, Mostafa Rajabi Mashhadi, Deputy General Manager of Iran’s Electricity Generation, Transmission and Distribution Management Company, Tavanir, told the Islamic Republic News Agency (IRNA) that the country’s power plants have approved tariffs and all the necessary licenses. In the past period of hyperinflation, Iran started to allow cryptocurrency mining under restrictions to bring foreign capital.

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