What are the conditions for using digital currencies for car imports? The head of the Export Confederation answers

Mohammad Lahoti, the head of the Iran Export Confederation, said that the condition of using digital currencies for importing cars is legal mining with a license that can be monitored by the Central Bank.

According to Erzdigital and to quote From Mehr news agency, Lahoti said about the use of cryptocurrencies in foreign trade:

The use of cryptocurrency in the current situation of Iran’s economy is one of the important tools in the field of import and in the future it may be useful and helpful in the field of export as well. However, due to the fact that the origin of cryptocurrency mining is important for the government and the basis of use for authorized cryptocurrencies, it has been implemented in the field of import for the time being.

The head of Iran Export Confederation added:

The use of cryptocurrencies in the field of imports has been almost successful, and according to the announcement of the Trade Development Organization of Iran, 10 million dollars of cryptocurrencies were used in the field of imports three weeks ago.

Referring to the import of cars using cryptocurrencies, he said:

In the field of automobiles, which is a sensitive area for the Central Bank and the Ministry of Security, and in some way, imports must be done with export currencies, and according to what has been said, it seems that the foreign currency is not going to be assigned to the import of automobiles, so the use of export currency and cryptocurrency It can be helpful.

Lahuti added:

The important point is that Iran is currently the only country in the world that has recognized the currency in foreign trade, and for that reason, it is helping to provide currency in the field of imports.

The member of the delegation of the Tehran Chamber of Commerce continued by stating that the origin of the cryptocurrency should be declared and verifiable by the provider:

Considering that the condition of using cryptocurrency is legal mining with a license that can be monitored by the central bank, therefore it can play an effective role in facilitating foreign trade.

He stated:

Of course, no central bank in the world has yet recognized cryptocurrency for business; Therefore, the status of using this tool in trade depends on the bilateral agreements between Iran and the countries of origin, and if those countries accept it, it is definitely possible.

Lahoti said that using any method that bypasses the current restrictions would be beneficial.

Any method that gives us the opportunity to effectively participate in foreign trade in the context of sanctions is helpful, provided that the target countries also accept cryptocurrency.