TEHRAN, Iran, Jan.5
Trend:
Iranian officials eye to use cryptocurrency for certain type of transactions, said head of Digital Innovation Commission in Tehran Chamber of Commerce Farzin Fardis, Trend reports citing ILNA.
"Cryptocurrencies can be used for small-scale transactions in international trade," he said. "It can be used in trade with neighboring countries, but not for major deals."
Fardis said while cryptocurrency can partially help Iran gain foreign exchange revenues through trade, it won't be enough to solve the country's banking and money transaction issues.
Back in January 2019, former head of Iran's Trade Promotion Organization (TPO) Mohammad-Reza Modoudi announced Iran negotiating with eight countries to use cryptocurrency in its financial transactions.