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What will be the main barrier to Iran's effective use of crypto by 2025?
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Resolution / Starting Odds
International sanctions • 25%
Domestic policy issues • 25%
Technological limitations • 25%
Public distrust • 25%
Analyses from financial experts and reports from Iranian government
Story
Iran Regulates Crypto, Bans as Payment to Boost Economy, Counter Sanctions
Dec 9, 2024, 04:40 AM
Iran is shifting its stance on cryptocurrencies, moving from imposing restrictions to introducing regulations. The Central Bank of Iran has issued a new directive allowing the operation of cryptocurrencies within the country, but explicitly prohibits their use as a payment tool in place of the rial. Iranian Finance Minister Abdolnaser Hemmati has outlined plans to leverage digital currencies for economic growth, job creation for the youth, and as a means to counter US sanctions. This regulatory pivot aims to align Iran with global financial trends and potentially harness the significant crypto holdings of Iranians, estimated to be between $30 billion and $50 billion, with daily trades of $10 billion, 20% of which occur externally, for economic benefit.
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Technological challenges • 25%
Regulatory issues • 25%
Market competition • 25%
Lack of public trust • 25%
User adoption hurdles • 25%
Scalability issues • 25%
Interoperability with other systems • 25%
Cybersecurity vulnerabilities • 25%
Public Acceptance • 25%
Financial Constraints • 25%
Regulatory Issues • 25%
Technical Infrastructure • 25%
Maintain current policy • 25%
Reimpose bans • 25%
Introduce new regulations • 25%
Further liberalization • 25%
Economic stability • 25%
Other • 25%
Security concerns • 25%
Lack of necessity • 25%
Decentralized Finance (DeFi) • 25%
Strategic Bitcoin Reserve • 25%
Stablecoins • 25%
Other • 25%
Technological compatibility • 25%
Market stability • 25%
Consumer protection • 25%
Fraud prevention • 25%
Other • 25%
Lack of Necessity • 25%
Security Concerns • 25%
Economic Impact • 25%
Asia • 25%
Other • 25%
United States • 25%
European Union • 25%
Political Pressure • 25%
National Security Concerns • 25%
Cultural or Religious Reasons • 25%
Economic Reasons • 25%
Major exchange collapse • 25%
New regulatory framework • 25%
Other • 25%
Widespread adoption by financial institutions • 25%