The National Center for Cyberspace of Iran has reported on the completion of the bill on the national cryptocurrency.
The draft of the national cryptocurrency was developed in accordance with the instructions of the Iranian President Hasan Ruhani. According to the deputy head of the local Council for Cyberspace, his department actively promotes the idea of a national cryptocurrency, which can serve as a tool for circumvention of US sanctions.
Besides that, it is also reported that authorities of the country will soon eliminate legal uncertainty in the sphere of cryptocurrencies since the Central Bank of Iran intends in September this year to clarify the official position on this issue.
Recently, Iranian banks and other credit institutions are prohibited from carrying out operations with cryptocurrencies due to concerns of local authorities regarding the risks of money laundering.