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 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.
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.
