TEHRAN, Iran, August 15. The Association of Foreign Exchange Operators and Iran's Forex Network are ready to facilitate the use of cryptocurrency for placing import orders, said the head of the association Kamran Soltanizadeh, Trend reports citing IRNA.
According to collaborations between the Central Bank of Iran (CBI) and the Ministry of Industry Mine and Trade use of cryptocurrency for imports will be allowed and its regulation will be announced next week, he said.
Soltanizadeh pointed out that the Association of Foreign Exchange Operators is an executive branch of the CBI and is ready to facilitate the import by use of cryptocurrency.
Based on the Central Bank of Iran trading cryptocurrency is banned as an investment but individuals with legal permits from the Ministry of Energy and Industries have the possibility for mining cryptocurrency and using it for placing orders for imports.
Iran has placed its first official import order using cryptocurrencies that would evade US sanctions. An order worth $10 million, has been placed for the imports of automobiles.