Iranian Banker Calls for Cryptocurrency Acceptance

An official at Iran’s biggest bank called for bankers to use digital currencies themselves and design a domestic digital currency.

Also Read: Iranian Bitcoin Adoption Surges Amid Political Protests and Censorship

Digital Currencies Shaping the Future of Banking

Masoud Khatouni, the deputy for information technology and communications network at Bank Melli Iran (BMI), has come out in favor of cryptocurrencies. According to the bank official:

Iran must formally recognise activities using digital currencies as they are currently shaping the future of banking. Banks themselves must also enter this field to use them.

The BMI officialIranian Banker Calls for Cryptocurrency Acceptance believes that his nation could benefit from digital currency, particularly as they have a history of dealing with the burden of economic sanctions. He stressed that there should be “no limitations” on the use of digital currencies. “I ask central bank officials to refrain from creating restrictions for digital currencies by way of laws and regulations, because based on the current realities of the world, they have taken form and the Iranian people have also moved toward them,” said the banker.

Mixed Signals on Emerging Cryptocurrency

The bank official’s stance is markedly different from other prominent bankers in Iran. Both the Central Bank of Iran (CBI) Governor Valiollah Seifand and head of its Innovative Technologies Department Nasser Hakimi have recently urged people to exercise utmost caution when dealing in cryptocurrencies, especially with the most well known: Bitcoin.

Last December, member of parliament Mohammad Reza Pour-Ebrahimi reportedly said that Bitcoin and other digital currencies were not in line with the nation’s religious beliefs and therefore caution must be exercised:

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