Crypto mines to fund car import in Iran

Considering the economic turmoil in Iran, the private sector seems not really satisfied with Iran’s local fiat money.

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Gholam Hossein Mozaffari, CEO of the Kish Free Zone Organization, has proposed to use crypto funds like BTC and hopes that the local government approves the proposition so they can pay for importing cars to Kish Island in Iran.

Previously, these ideas had been rejected by the Central Bank of Iran who believed that this type of funding is not possible because of the hyperinflation of the Rial which is the official currency of Iran.

Mr. CEO expressed his concerns about car import and called it a “sad story” as the costs are too high. He said that his next suggestion was to provide the required currency via the mined digital currencies in free zones that wouldn’t impose any pressure on the currency of the country.

Although Mr. CEO will meet the head of the Central Bank next week, they have already negotiated with certain companies for a crypto set up framework in the hope of getting the greenlight. Previously the Iranian government had taken down numerous mining equipment due to having worked without a license. Therefore, it seems that Iran is changing those rules and policies towards allowing such activities.

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Cryptocurrency(5)

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miner

mining