Economist: The value of Iran's cryptocurrency holdings is equivalent to one third of the country's gold market

Economist Mohammad Sadegh Alhosseini stated that the value of cryptocurrency held by Iran is between 30 billion and 50 billion US dollars, accounting for about one-third of the country's gold market. The daily transaction volume of cryptocurrency in Iran is approximately 143 million US dollars (1 quadrillion rials).

The Central Bank of Iran (CBI) and the Ministry of Finance are formulating measures to increase transparency in the cryptocurrency market, which has been used to circumvent sanctions imposed by the United States on international banking. Last Saturday, CBI issued a policy document aimed at aligning cryptocurrency transactions with Iranian anti-money laundering and tax laws.

Alhosseini warned that stricter regulation could lead to companies evading sanctions being punished by the United States, which would make CBI responsible. He suggested that private entities can play a role in organizing markets and reducing risks from direct government supervision. (Bitcoin.com)