The Iranian NCC Declares Their Cryptocurrency is Ready to Launch

According to the Financial Tribune, the National Cyberspace Center in Iran has revealed the cryptocurrency backed by the state is ready for the draft. The article states the instructions for the national digital currency project came from Hassan Rouhani, the President of Iran. The deputy director responsible for the drafting regulations for the Supreme Cyberspace Council of Iran is Saeed Mahdiyoun. He has allegedly revealed the cyberspace authority in Iran is actively pursuing the introduction to a national cryptocurrency. This revelation was made to IBENA, a local news agency. Saeed Mahdiyoun additionally said all of the existing uncertainty regarding cryptocurrency will be removed by the state authorities. This is due to the Central Bank of Iran preparing to officially introduce their stance regarding this issue towards the end of September. The credit institutions and banks in Iran have a current ban on cryptocurrency operations that is being enforced. This is due to the concerns regarding money laundering that were originally discussed in December of 2027.

Cointelegraph, Iran made a report in the past. They confirmed they will be responsible for creating their own state issued token. This is to avoid the United States sanctions upcoming in the not too distant future. They also intend to facilitate the money transfer both to and from anywhere on the globe. This is mimicking Venezuelan practices from when the first national currency was introduced as Petro in February of the current year. The authorities in Iran are considering using blockchain technology as a means of circumventing the challenges existing in the country. This includes the complete ban on the acquisition of United States dollars that went into effect early in August.

Cointelegraph issued a report on August 17th stating the crypto ransomware threat in Iran is still on the rise. The expectations are the current geopolitical environment will cause this threat to continue to grow. Accenture is a global management consulting firm. Their firm reports the Iranian criminals or actors backed by the government may have been responsible for the detected ransomware.