Iran to Allow Foreign Settlements in Crypto

The country plans to integrate digital currency exchange into its trading system.

Iran to Allow Foreign Settlements in Crypto

An agreement was reached yesterday between the Central Bank of Iran and the Ministry of Industries, Mining, and Trade, which brings forth fundamental changes in the area of finance and trade.

The agreement states that businesses can now settle international trades in cryptocurrencies, as the trading system will get integrated with crypto exchanges.

Iranian investors have welcomed the news with open arms as it opens new possibilities for companies to trade goods.

We are finalizing a mechanism for operations of the system. This should provide new opportunities for importers and exporters to use cryptos in their international deals, said Peyman Pak, the head of Iranian Industry, Mining, and Trade.

While no further information is available at the time of writing, the country’s upcoming crypto integration can be viewed as yet another step to global acceptance of cryptocurrencies, and the community could not be happier.

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