Iran is working on a cryptocurrency supported by the government

According to the information provided, the national digital currency draft was developed on the orders of Iranian president Hassan Rouhani.

Saeed Mahdiyoun, the deputy director responsible for developing the rules on the Supreme Council for Cyber Space in Iran, revealed to the local IBENA news agency that the idea of introducing national cryptocurrency is consistently developed by the people responsible for cyberspace in that country. According to the central bank of Iran, this cryptocurrency will be excluded from the official ban on cryptocurrencies in this country. The ministerial project can help with matters regarding potential US sanctions.

The country follows the example of Venezuela, whose government introduced the first state cryptocurrency Petro in February this year. Iran's authorities use blockchain technology to address major challenges, including a total ban on US dollars, which was adopted in early August.

در جلسه‌ای که با هیئت مدیره پست بانک در خصوص ارزهای دیجیتال مبتنی بر زنجیره بلوکی داشتم، مقرر شد این بانک اقدامات لازم برای پیاده سازی آزمایشی اولین ارز دیجیتالی کشور را با استفاده از ظرفیت نخبگان کشور به عمل آورد. مدل آزمایشی برای بررسی و تایید به نظام بانکی کشور ارائه خواهد شد.

I believe that cryptocurrencies can have a significant impact on the financial exchange model in the country. First of all, research should be carried out to implement this technology. All cryptocurrencies have the ability to circumvent sanctions because they are not under the supervision of the US Financial Supervisory Authority.