The use of cryptocurrencies is only possible for small foreign exchanges
Reacting to the remarks of the head of the Trade Development Organization about the use of cryptocurrencies in purity, Farzin Ferdis said: “It is good news that the country’s foreign trade officials and one of the most important decision makers in export and import development have addressed this issue and this promises that we Let’s have a better situation in the field of ciphers and get a little out of the gray space in this area.
He added: “However, it should be noted that just creating a system or platform to use cryptocurrencies in business is not enough, because we have serious gaps in the supplementary laws in this area.” For example, suppose an exporter takes his money with Ramzarz. Does the central bank ask him to return his export currency? How can that issuer disclose this currency code in its financial statements? Does the IRS accept the offices of this exporter who traded with Ramzarz instead of one of the common currencies? Are the systems of the Tax Administration fully prepared to be part of the financial statements of traders based on cryptocurrencies and to disclose receipts and payments with it?
The head of the Economic Innovation and Digital Transformation Commission of the Tehran Chamber of Commerce stated: Therefore, just welcoming foreign trade officials to this issue is not enough for this phenomenon to help us. If other institutions and bodies do not help, these concerns are immediately raised in economic actors and they refuse to use this facilitator tool for fear of other government institutions punishing, fining or punishing them. So this is a good step forward, but it has to be completed with other steps and generally requires a series of infrastructures.
He added: “The whole route is responsible for very small exports and imports, of course, is not enough in large mechanisms and figures, but exchanges with traders from neighboring countries and small traders in commercial markets can be used as an auxiliary tool.” So it does not solve all the problems, but it can alleviate some of the problems. This shows that an open and developmental view of the WTO complex is being created while promising better days.
Ferdis added: “Conceptually, this mechanism helps us in the conditions of sanctions. In any case, part of the country’s foreign exchange needs and currency transfers can be done through this, but if we want to magnify and say that this mechanism is all the country’s currency problems and problems Solves sanctions is not right at all. It can be used for small, regional exchanges and for small or maybe medium cultivars.
A member of the delegation of the Tehran Chamber of Commerce stated: For example, an exporter of plastic products that exports its products to Iraq, for example, or an exporter of agricultural products that exports to the UAE may be able to use its money with Ramzarz, but to export steel. Iron ore or the import of heavy industrial products, Ramzarz is not usable in most cases, and for large cultivars it is necessary that we continue to be serious and work on the mechanism of lifting sanctions and returning to the international space.
He also noted that in the use of cryptocurrencies, since we are connected to a different system from the international monetary and financial system, it is no longer a matter of countries, but of most individuals and businesses that are ready for such an exchange. Businesses that are more up-to-date and able to use this mechanism are more likely to accept; They are more likely to be accepted.
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