Bitcoin News and Finance
New Crypto and Blockchain Association Launches in Iran Skip to main content

New Crypto and Blockchain Association Launches in Iran

New Crypto and Blockchain Association Launches in Iran

A recently established crypto industry association in Iran has commenced activities under the country’s chamber of commerce. Its management hopes to help remove obstacles challenging its members while facilitating the implementation of blockchain technology in the sanctioned nation’s economy.

Industry Association to Address Blockchain-Related Challenges in Iran

The newly-established Iran Blockchain and Cryptocurrency Association (IBCA) has started operating under the supervision of Iran Chamber of Commerce, Industries, Mining and Agriculture (ICCIMA), the English-language business daily Financial Tribune reported. According to the publication, the IBCA is the first organization affiliated with the chamber that is dealing with challenges facing Iran’s growing blockchain ecosystem.

The launch was announced by Mohammad Reza Sharafi, member of the association’s board, who expressed hope that the IBCA would be able to remove hurdles faced by businesses in the crypto space and use blockchain technology in the interest of the Iranian economy. Speaking to the Way2pay website portal, Sharafi also elaborated:

There are a variety of issues related to the development of the innovative technology in Iran. Concerted efforts have been made to maximize the benefits of this sector for the economy… We need to work closely to ensure the use of the potential of the technology without monopolizing it.

The organization’s representative added that the ICCIMA issued permission for the establishment of the new group last year. The launch was delayed, however, due to various reasons, not least of which was the change in government in Tehran. Mohammad Sharafi is convinced that working under the chamber’s supervision will create opportunities to address key challenges in the sector, in particular those pertaining to regulations.

A previously active industry body, Iran Blockchain Association (IBA), was founded in 2017 as a nonprofit, self-governing society of entrepreneurs, experts, and activists involved in the development of the rapidly growing technology. IBA had its activities suspended in June of this year by the Ministry of Interior for allegedly breaching its own articles of association.

The move came after Iranian lawmaker Rahim Zare accused non-government crypto organizations of transferring foreign currency funds outside the Islamic Republic. The IBA rejected these claims that had not been backed by any evidence.

Iran’s crypto space remains largely unregulated. In April, the Central Bank of Iran (CBI) authorized domestic banks and money exchangers to use locally mined cryptocurrencies to pay for imports to the sanctioned nation but authorities have been going after coin trading and crypto payments in the country.

Restrictions on cryptocurrency trade would deprive Iran of opportunities, local fintech companies warned earlier this year, expressing opposition to government attempts at curbing the operations of digital asset exchanges. Crypto mining is currently the most regulated sector since Tehran recognized it as a legal industrial activity in 2019.

Do you think Iran’s new crypto and blockchain association will manage to achieve its goals? Share your thoughts in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory