Iran is eager to make a name for itself in the global digital asset industry as it prepares for the phased adoption of its CBDC while Southeast Asia braces for more crackdowns as the market stumbles.
Central Bank of Iran governor stated that its crypto rial will be different from current digital currencies and has been designed solely to "replace the banknotes that the people currently possess."
The Iranian Ministry of Intelligence stated that the total transaction blocked was over $60 trillion tomans, but the amount attributed to digital currency transactions was not disclosed.
The Central Bank of Iran has notified commercial banks that it intends to launch the state bank-backed digital currency soon, issuing a series of regulations that pave the way for the currency.
The Iranian central bank plans to begin a pilot for its CBDC soon, an executive has revealed, saying it will resolve inconsistencies and decentralize resources.
The Central Bank of Iran and the Ministry of Trade will partner on the initiative geared towards evading international sanctions on the Iranian economy.
After the Central Bank of Iran was ejected from the global SWIFT network following the reintroduction of U.S.-led sanctions, sources close to the CBI have confirmed it is stepping up efforts to introduce state-backed digital currency.
The Central Bank of Iran (CBI) will likely lift a ban on cryptocurrency trading by the country's commercial banks and exchanges in September, according to reports.