Only state financial institutions will be able to use this cryptocurrency .
The government of Iran has finally launched a national cryptocurrency. The token, called PayMon, is still supported by only four state-owned banks – it is assumed that it will allow the authorities of the Islamic Republic to circumvent the sanctions of the United States and the European Union.
For the first time, the Iranian government spoke of its intention to launch its own cryptocurrency in early 2018. It was reported that the launch of the cryptomeric was to be held on January 29, 2019, but for unknown reasons was postponed.
According to CryptoGlobe, the national cryptocurrency will be traded on the Fara Bourse exchange, and operations with it for the first time will be available only to state financial organizations.
The token, whose name translates from Farsi as “covenant”, is provided with gold – however, the authorities of the Islamic Republic do not specify in what proportion. At first, about 1 billion PayMon tokens will be issued, in the future the Iranian government may increase their number.
Unfortunately, Iran is not ready to work with other cryptocurrencies other than national. Earlier, the country's Central Bank announced its intention to enter a register of digital assets approved by the regulator, operations with which will be allowed on the territory of the Islamic Republic. According to media reports, Bitcoin and most large cryptocurrencies are not among them.
Earlier, the authorities suggested that eight countries, including Russia, South Africa and several countries from the European Union, transfer all calculations to cryptocurrency. So far, no answer has come from any of the states.
Publication date 05/02/2019
Share this material on social networks and leave your opinion in the comments below.
