According to the Tehran news agency, in Iran it is planned to launch a gold-backed cryptocurrency. This decision was made against the background of strong pressure on Iran by the Trump administration.
According to the Director General of Iranian Information and Communication Technologies (ICT) FANAP Shahab Javanmardi, the Central Bank of Iran has approved the release of cryptocurrencies .
“Iranian cryptocurrency will be supported by gold, but in functionality it is similar to other cryptocurrencies. It is designed to maximize the use of Iran’s frozen bank assets. ”
Since January 2019, several banks – Parsian Bank, Bank Pasargad, Bank Melli Iran and Bank Mellat, have been working with the blockchain- based Kuknos Company, in cooperation with which the cryptocurrency is issued under the name Paymon.
Initially, the Iranian government opposed Bitcoin and its mining, the reason was the excessive, in their opinion, energy consumption, characteristic of mining cryptocurrency on the PoW algorithm.
The fact is that in Iran, electricity is subsidized, and many miners take this opportunity to build large mining farms.
The topic of legalization of cryptocurrency has been discussed for a long time all over the world. In this regard, the situation in Iran on the regulation of cryptocurrency is as uncertain as in most countries of the world.
In 2019, cryptocurrencies are becoming increasingly political, as governments begin to realize that this industry can no longer be ignored. In fact, more than 70% of the world's central banks are studying the impact of such coins on the economy.
Publication date 07/22/2019
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