Iran Now Allows the Use of Crypto for Imports

by in Cryptocurrency News

Iran crypto imports

Iranian government officially confirmed a regulations bill, which allows the use of cryptocurrencies as a means for payments in imports.

Related: Iran plans to start testing its token in the near future

A week ago, the Iranian Importers Association stressed the importance of a stable regulatory framework for cryptos. Earlier this month the country placed its first import order in crypto. According to Trade Minister Seyed Reza Fatemi Amin, the law specifies all issues concerning the crypto space, including the ways of providing fuel and energy for mining and granting licenses.

The new regulations enable the import of any goods, which could help Iran to bypass economic restrictions by the US. This raises the demand for crypto which is less regulated while Western currencies are banned in the country.