The Iranian government is laying the groundwork for bitcoin adoption, according to Iran’s Deputy Minister of Information and Communication Technology (ICT), Amir Hossein Davaee, quoted by

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The Iranian government is reportedly laying the infrastructure for adopting bitcoin as a currency.

“The ministry of communications and information technology has already conducted a number of research studies as part of efforts to prepare the infrastructure to use bitcoin inside the country,” ICT Minister Davaee said in an interview with Shargh newspaper, as quoted by the Iran Front Page.

Speaking of the government’s focus on the economic and infrastructural aspects of cryptocurrencies at length, the Iranian official dwelled on the merits of bitcoin adoption, stating that the measure would prove beneficial for the country’s general interests.

“We [the ICT] as the main center in Iran dealing with the country’s technology developments have taken very seriously the issue of preparing the infrastructure for the new currency,” Davaee said.

Given that the renewal of the country’s current digital infrastructure and bitcoin adoption are among the ministry’s core objectives at the moment, we might see BTC gaining legal tender status in Iran.

“Arrangements are being made with the related organizations to put together the infrastructure as early as possible,” the Iranian official added.

Economic sanctions imposed on Iran’s financial and oil industries are taking a toll on the country. While Iran is not, by any means, the sort of crumbling economy on its knees in the face of sanctions, the country is constantly trying to shield itself from the worst possible economic scenarios. Since US President Donald Trump has recently repudiated the Iran nuclear agreement, new international sanctions imposed on Tehran are sweeping in. Understandably, the country is looking at new ways to limit its dependence on the fiat currency system.

Iran lays groundwork for bitcoin adoption – Image source: semisara/Flickr

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