{"id":41496,"date":"2021-04-27T17:11:15","date_gmt":"2021-04-27T14:11:15","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=41496"},"modified":"2025-08-30T19:00:21","modified_gmt":"2025-08-30T16:00:21","slug":"iran-allows-financial-institutions-to-pay-for-imports-with-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/iran-allows-financial-institutions-to-pay-for-imports-with-bitcoin\/","title":{"rendered":"Iran Allows Financial Institutions to Pay for Imports with Bitcoin"},"content":{"rendered":"<p>The Central Bank of Iran (CBI) has allowed banks and other licensed financial institutions to use cryptocurrency to pay for imports, according to <a href=\"https:\/\/financialtribune.com\/articles\/business-and-markets\/108313\/banks-and-forex-shops-can-use-digital-assets-to-pay-for-imports\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"> Financial Tribune<\/a> citing the regulator.<\/p>\n<p><!--more--><\/p>\n<p>The CBI has<a href=\"https:\/\/u1f987.com\/en\/news\/iran-allows-power-plants-to-work-with-cryptocurrency-miners\"> required<\/a> the use of only digital assets mined by authorized miners. This activity was legalized in Iran in July 2019.<\/p>\n<p>A year earlier Iran<a href=\"https:\/\/u1f987.com\/en\/news\/media-iran-to-pay-for-imports-with-bitcoins-mined-domestically\"> had been hit by US sanctions. The CBI and other financial institutions were<a href=\"https:\/\/www.reuters.com\/article\/us-usa-iran-sanctions\/u-s-not-too-bothered-by-europes-idea-for-iran-trade-as-companies-moving-out-idUSKCN1NH208\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"> \u043e\u0442\u043a\u043b\u044e\u0447\u0435\u043d\u044b<\/a> from the interbank system SWIFT \u2014 this made dollar settlements for imports unavailable, which spurred the country&#8217;s interest in cryptocurrencies.<\/p>\n<p>In July 2020, the government required miners operating in the country to register with disclosure of identity, type, and number of installed equipment. The authorities<a href=\"https:\/\/u1f987.com\/en\/news\/iran-allows-power-plants-to-work-with-cryptocurrency-miners\"> allowed<\/a> power plants to work with mining centers provided they hold a license and comply with tariffs.<\/p>\n<p>In October it became known that Iran<a href=\"https:\/\/u1f987.com\/en\/news\/media-iran-to-pay-for-imports-with-bitcoins-mined-domestically\"> approved<\/a> a mechanism for paying imports<\/a> using Bitcoins obtained by the central bank, mined by local miners.<\/p>\n<p>In January 2021, journalists found that many of the mining farms in Iran<a href=\"https:\/\/u1f987.com\/en\/news\/media-chinese-bitcoin-miners-caused-power-outages-in-iran\"> were owned by Chinese companies<\/a>, which were trying to hide their presence.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Iran (CBI) has allowed banks and other licensed financial institutions to use cryptocurrency to pay for imports.<\/p>\n","protected":false},"author":1,"featured_media":41497,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,840],"class_list":["post-41496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-iran"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=41496"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41496\/revisions"}],"predecessor-version":[{"id":41498,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41496\/revisions\/41498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/41497"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=41496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=41496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=41496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}