BAKU, Azerbaijan, Mar.15
Trend:
Cryptocurrency and blockchain technologies are the best solutions to finance investment for innovative businesses, said a board member of Iran Blockchain Home.
"Our activities would facilitate the purchase of cryptocurrencies for the people and we have succeeded in the patent the first ATM for trading cryptocurrencies in Iran, the device is completely practical, " Ali Zanjani told Trend in an interview with Trend.
"People can purchase cryptocurrency without limit and fee by their banking cards, while they can withdraw money from this device across the city, this was an achievement that was made by the staff of the company. The second generation of ATMs had been built for cryptocurrencies and by unveiling this device we would witness the third generation of ATMs, a device that would easily buy and sells cryptocurrencies," he noted.
Zanjani went on to say that the ATM could transfer cryptocurrency to customer's wallet, paper wallets are an offline cold storage method of saving cryptocurrency, the device is promising a bright future for the country's economy as the world moves toward cryptocurrencies.
"We received some orders from various countries in the world to produce and export the device for them and we are reviewing the requests to prepare the contract and hopefully the Central Bank of Iran would set proper rules so we can provide services to people of Iran," he said.
Mining was legalized last Iranian year (March 21, 2019), however, the industry is heavily regulated by the government.
The Iranian government has amended legislation on digital assets in October to allow cryptocurrency to be used for import funding by the Central Bank of Iran (CBI). The change means legally mined cryptocurrency in Iran can only be exchanged if used to fund imports from other nations. Twelve crypto mining farms are operating in Iran's free trade and special economic zones, recently stated by an official with the High Council of Free Zones and Special Economic Zones.