Iran also wants to legalize crypto - page 4.

xiboothrezi

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Quote from: taufik123 on June 13, 2021, 10:12:11 AM

~~ More and more countries are starting to legalize bitcoin in their countries. It is likely that other countries will follow suit.

the legality and clear rules regarding the use of cryptocurrencies will provide a sense of calm to its users. while for people who have not been involved, will definitely feel interested because the government has shown its support.
from this, we can know that cryptocurrency is an innovation and evolution in the financial system that provides many advantages. although there are many pros and cons, if we can use it well it will definitely give benefits, with support from the government it will further increase public trust.

CryptoStar19

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Yes it is true that Iran is both banning crypto and wanting to legalize it:

The ban of crypto in Iran has to do with the country's power grid breaking in the capital city of Tehran and elsewhere (power outages multiple times a day) because of so much mining activity and the electric grid and supply not being able to match the demand.

Iran wanting to legalize crypto has to do with the regime's desire to bypass banking and financial sanctions placed on them by the western powers. Basically by using bitcoin they can circumvent bans placed on them from a banking perspective.

Imran232

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If this things happen then it might be a process to enter other countries government. I think when other countries government saw that those country who make crypto fully legalize their economy growth fast plus they are getting more people in crypto. They are able to reduce unemployment problem in their countries which means their average income per person plus their economic growth becomes faster than before then they will understand and they will start taking step to completely legal bitcoin in their country. It my opinion but others can be different. Thank you.

taufik123

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After El Salvador legally accepts Bitcoin as a means of payment, it is now the turn of the Iranian state who immediately wants to legalize bitcoin in their country. Not without reason Iran wants to legalize Bitcoin, this may be the right solution to overcome the problem of the Embargo from the United States. Iranian President Hassan Rouhani commented on the legalization of Bitcoin, he said to immediately think of a solution and establish a legal basis for the use of Bitcoin and educate the public about cryptocurrency legislation. By conducting proper education to the public, it will certainly protect capital in the crypto market from unprofessional entries.
This is a major step taken by Iran. More and more countries are starting to legalize bitcoin in their countries. It is likely that other countries will follow suit.

Hughes_Ryan

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Quote from: ILuckyGuyI on June 11, 2021, 07:26:50 AM

El Salvador succeeded in being the first country to accept Bitcoin as legal tender. And many countries are following it right now (like Latin American countries). And now, Iran is also preparing to join them. It is really good to see for the benefit of Bitcoin adoption.

Countries that are bitcoin-friendly will have very low levels of inflation and corruption. I believe so, although I hope that Venezuela or Iran could be El Salvador's next step.

Quote from: Candied Haws on June 11, 2021, 11:46:02 AM

I hope China do like this.

China has never been a launch pad for bitcoin's value. They just created the ambition to acquire with the largest bitcoin mining rate in the world. FUD always starts in China. Lol

22bits

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I do seem to recall that the Islamic State wanted to have real 'gold' money, I may be wrong but I think there may be some thinking about getting away from western type fiat currencies, so it wouldn't surprise me if countries like Iran start to embrace the non fiat type cryptos like bitcoin.

bryant.coleman

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Quote from: SoeNan89 on June 13, 2021, 08:05:04 AM

Most likely they want to legalize Bitcoin. the rule that it was forbidden to mine only last summer, the ridiculous rules they made are a common thing that happens in the world of coin mining.
Most likely with the presence of bitcoin, many countries will be depressed economically. Only some of their people can enjoy a lot of money with the world of bitcoin.

The chances are very very low... The national currency (Iranian Rial) is looking extremely weak after all the sanctions and embargoes. Any sort of official recognition to Bitcoin would mean that more and more ordinary Iranians would be rushing to convert their Rial to BTC and the exchange rates will collapse. At the most, I expect the status quo to continue. Hoping for any sort of official recognition from the Iranian authorities doesn't make sense now. But as long as they are tolerating the use of BTC, I am fine with the situation there.

SoeNan89

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Most likely they want to legalize Bitcoin. the rule that it was forbidden to mine only last summer, the ridiculous rules they made are a common thing that happens in the world of coin mining.
Most likely with the presence of bitcoin, many countries will be depressed economically. Only some of their people can enjoy a lot of money with the world of bitcoin.

Issa56

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Waw I think this is very good to hear lot's of countries are being to legalize cryptocurrency I believe more countries will still legalize bitcoin which will definitely help bitcoin price. With the kind of things am seeing currently I believe this is the best time to buy bitcoin because I believe the price is still very low which in the next few months bitcoin will have pumped massively and we will never see bitcoin around this price again.

Alert31

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Quote from: enhu on June 12, 2021, 12:48:40 AM

Iran has a good number of miners which the government could make money of. This is a source of money for them as well. El Salvador had already did a great impact on the countries that wants independence.

The IMF had discouraged countries from doing the same thing but it's not stopping Iran. It made them panic when institutions come into crypto. Now it's bigger than the institutions like the government of a country itself.

After Iran what country do you think will follow to legalize crypto? It's really a great news and I hope it can help to boast the adoption and development of cryptocurrency.

Oneandpure

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Quote from: BrewMaster on June 11, 2021, 11:36:20 AM

it seems like countries with less corrupt banking systems are adopting bitcoin a lot faster than the developed countries that have such corrupt banking systems that keep slowing down bitcoin adoption in their countries. the sanctions are the catalyst to speed up that adoption.

Bitcoin advantage can be transparent when payment transaction and corruption community is very easy to know with bitcoin payment and very transparent, but still not many countries agree to adopt bitcoin because they know the effect if bitcoin legal many people move saving money from bank to bitcoin because fluactive price could give more profit later.

rhomelmabini

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I don't think that it will be that imminent for them to adopt that easily just because another country done the same. I don't know if this is the predicament of an upcoming surge of price because it was really a boring day trying to keep at the accumulation phase and not yet breaking out.

Quote from: hitsnorth on June 12, 2021, 08:54:31 AM

The process has started. How many countries are gonna do this by the end of the year?

Undetermined but I guess there will be some more countries that may involve in this and hoping this kind of thing circumventing round the crypto space may trigger the price increase.

hitsnorth

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The process has started. How many countries are gonna do this by the end of the year?

AniviaBtc

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Quote from: ILuckyGuyI on June 11, 2021, 07:26:50 AM

El Salvador succeeded in being the first country to accept Bitcoin as legal tender. And many countries are following it right now (like Latin American countries). And now, Iran is also preparing to join them. It is really good to see for the benefit of Bitcoin adoption.

Hopefully, this adoption that they are doing will become effective and fast for their economy grow because there are some countries who are not properly regulating it. Therefore, they will end up banning it again and people will leave their country and go somewhere else where bitcoin is legal.

Sometimes, the government is really the hindrance for people who want to invest in cryptocurrency as it is not practical.

I just really don't understand why they don't do something for it to work effectively just like El Salvador.

22bits

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Hopefully Iran will also follow suit as is suggested. I think that there is starting to be a backlash against fiat currencies and the 'race to the bottom'. I mean it makes sense for countries to try to follow a different path at this point, especially if there economy doesn't rely on depressing the currency to make manufacturing costs low (like China). Let's see who follows on next....

molsewid

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Quote from: nightxglow on June 12, 2021, 07:42:48 AM

It's always nice to hear about countries or companies accepting bitcoin, since it means that we're one step closer to make bitcoin more common in the society. I hope more and more countries will follow and start to support bitcoin, if they are not ready to legalize it yet, at least they try not to ban bitcoin. I hope bitcoin become more common and easy to be used in daily life.

You're right about it mate, it's always good to hear that there are those countries which are open handed to accept bitcoin as one of the legal tinder in their country. It doesn't mean that when bitcoin will be legally implemented in a certain it will going to replace fiat but instead it is only one of the circulating currency in the economy and the choices are still on the constituents of the country of what currency they going to use. I do hope that this wonderful news could also bring a great and positive feedback to bitcoin despite of the sudden huge dropped of bitcoin's market demand which due to other circumstances that really affect the price.

nightxglow

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It's always nice to hear about countries or companies accepting bitcoin, since it means that we're one step closer to make bitcoin more common in the society. I hope more and more countries will follow and start to support bitcoin, if they are not ready to legalize it yet, at least they try not to ban bitcoin. I hope bitcoin become more common and easy to be used in daily life.

newwest

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Quote from: Rajamuda on June 11, 2021, 09:10:44 PM

Let's see in the future, how the world responds to bitcoin after that's proven. Bitcoin has increasingly being considered as a positive thing and had been a good role in economic life, of course this is one of the countries that has considered that it can indeed advance its people to a better economic life.

Yes we want to see more and more countries to start legalizing and making use of it. These will give more business and employers the opportunities to have business around crypto and also start accepting payment in crypto for their good and services.

ropyu1978

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Iran also wants to legalize bitcoin, maybe Iran has realized that bitcoin can make the Iranian people's economy develop, Iran wants to follow El Salvador's steps, hopefully with them legalizing bitcoin, their economy will be better, and can reduce unemployment in their country.

enhu

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Iran has a good number of miners which the government could make money of. This is a source of money for them as well. El Salvador had already did a great impact on the countries that wants independence.

The IMF had discouraged countries from doing the same thing but it's not stopping Iran. It made them panic when institutions come into crypto. Now it's bigger than the institutions like the government of a country itself.

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