The representative of the Iranian Bank BMI encouraged to use digital currency

The official representative of one of the largest banks in Iran called upon the bankers to utilize the digital currency, and develop local digital currency.

Massoud Khatuni responsible for the development of information and communication technologies in Bank Melli Iran (BMI), made a statement in favor of the cryptocurrency. He said:

«Iran should formally recognize operations with digital currencies, as they are currently shaping the future of banking. Banks themselves must also begin to use them.»

Khatuni believes that the state can benefit from digital currency, especially due to the fact that in the history of the country, there is a period of struggle with the burden of economic sanctions. He suggested that the Central Bank needs to create a group for the integration of digital currency into its operations and developed rules based on international experience. Khatuni stressed that there should be no restrictions on the use of digital currencies.

«I request the officials of the Central Bank to refrain from creating restrictions for digital currencies in the framework of the laws and rules because, based on the current realities of the world, they are already taking clear shape, and the Iranian people also went to meet them,» said the banker.

A white crow?

Position of the Bank official is markedly different from the other known representatives of the banking sector in Iran. As the head of the Central Bank of Iran
(CBI) Valiollah, Seyfang (Valiollah Seifand) and the head of the Department of innovative technologies Naser Hakimi (Hakimi Nasser) recently urged people to exercise extreme caution when dealing with cryptocurrencies.

In December last year member of Parliament Mohammad Reza Por Ibrahimi (Mohammad Reza Pour-Ebrahimi) has said that bitcoin and other digital currencies do not conform to the religious beliefs of the country and therefore should be treated cautiously:

«The trades and transactions made through Bitcoin are not in any way correspond to Islamic principles and economy, therefore, relevant to the issue, especially the Central Bank must exercise the necessary oversight of these transactions».

The longer the wait, the worse the consequences

Khatuni believes that digital currencies are gradually entering the banks, however, financial institutions prefer to ignore their presence.

«The more time it will take to ensure that the digital currency was officially recognized, the worse the consequences will be,» said village of Khatuni.

Despite warnings from Iranian regulators, Coindance data show that cryptocurrency trade intensified in the country in terms of political problems. «Many people in the country are currently engaged in the purchase and sale of cryptocurrency,» said the village of Khatuni. «We must not allow that they still did it in secret, and to do this we need to develop a comprehensive, clear and transparent rules for the use of digital currency».

It is expected that the Central Bank will consider the issue of regulating cryptocurrencies in September and by the end of the first half of the next Iranian fiscal year.

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