Central bank approves regulatory framework for cryptocurrencies

Central bank approves regulatory framework for cryptocurrencies

TEHRAN - Iran is taking a unified approach to regulate cryptocurrencies to balance oversight with economic development, IRNA reported.

The Central Bank of Iran (CBI) recently approved a “Policy and Regulatory Framework for Cryptocurrencies”, reaffirming its role as the primary regulator. The framework emphasizes licensing crypto brokers and custodians under CBI supervision while ensuring compliance with anti-money laundering (AML) laws, counter-terrorism financing (CTF) regulations, and tax obligations.

CBI Governor Mohammadreza Farzin highlighted collaboration with other agencies, such as the Ministry of Economic Affairs and Finance, to develop robust regulatory mechanisms for the digital asset ecosystem.

According to the official, the mentioned framework focuses on active regulation and leveraging digital currencies’ economic potential.

Echoing these efforts, Abdolnasser Hemmati, Minister of Economic Affairs, stressed the government’s commitment to organizing—not restricting—cryptocurrencies. “Attempts to impose limitations have failed. Instead, we aim to manage their risks and capitalize on their benefits, including job creation and bypassing sanctions,” Hemmati said.

He criticized internet filtering for its economic impact and called for a shift toward expanding Iran’s digital economy. He urged crypto stakeholders to form a unified association to protect their interests.

Iran has emerged as one of the countries using cryptocurrencies strategically amid U.S. sanctions, which have limited its access to global financial networks. In recent years, the government has allowed crypto mining under regulated conditions, viewing it as a means to generate revenue and offset economic challenges. Iran has also explored cryptocurrency for international trade settlements to bypass restrictions, though the sector remains under close scrutiny to prevent illegal financial activities.

The combined efforts by Iran’s government and Central Bank signal a growing recognition of digital currencies as strategic tools for economic resilience, positioning the country to better integrate with global financial systems.

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source: tehrantimes.com