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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
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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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Regulatory issues • 25%
Technological challenges • 25%
Market competition • 25%
Lack of public trust • 25%
Regulatory challenges • 25%
Technological limitations • 25%
Market competition • 25%
Consumer trust issues • 25%
Enhancing domestic payment systems • 25%
Facilitating international trade with Russia • 25%
Countering U.S. sanctions • 25%
Other • 25%
Regulation • 25%
Innovation • 25%
Taxation • 25%
Security • 25%
Regulatory compliance • 25%
Energy costs • 25%
Market volatility • 25%
Data reporting requirements • 25%
Political Differences • 25%
Economic Sanctions • 25%
Logistical Challenges • 25%
Lack of Investment • 25%
Mining • 25%
Cross-border payments with China • 25%
Sanctions evasion • 25%
Other • 25%
New regulatory framework • 25%
Major exchange collapse • 25%
Widespread adoption by financial institutions • 25%
Other • 25%
Coinbase • 25%
ACLU • 25%
Electronic Frontier Foundation • 25%
Other • 25%
United States • 25%
China • 25%
European Union • 25%
Russia • 25%