Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Global
Iran’s Trade Ministry Approves the Use of Cryptocurrency to Pay for Imports

Iran’s Trade Ministry Approves the Use of Cryptocurrency to Pay for Imports

by BitDegree
September 1, 2022
in Global
Reading Time: 2 mins read
2.9k
A A
0
Share on FacebookShare on Twitter

Iran is getting one step closer to circumventing U.S. sanctions for its imports. 

Iran’s Ministry of Industry, Mine and Trade, an Iran government body responsible for regulations of foreign and domestic trades, has authorized the use of cryptocurrency to pay for imports. 

According to the news report shared by the local news portal Tasnim News Agency, the governmental institution has rolled out cryptocurrency trade regulations, which among other things, allow the use of cryptocurrency to pay for imported goods. 

You might also like

K5: a bright future ahead with the community being the biggest inspiration 

K5: a bright future ahead with the community being the biggest inspiration 

February 3, 2023
7.3k
Klever is your go-to DeFi solution 

Klever is your go-to DeFi solution 

February 1, 2023
7.3k

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

When commenting on this regulatory change, Trade Minister Reza Fatemi Amin noted that the law “defines regulations on cryptocurrencies, the supply of fuel and electricity for mining, and the authorization to use cryptocurrencies.” 

Amin also highlighted that, among other things, local businesses and citizens will be able to import vehicles using cryptocurrencies. This law becomes exceptionally useful, as previously, people would have to use US dollars or euros. 

It is worth remembering that Iran has been facing the US, United Nations, and European Union sanctions due to its nuclear programs. 

Therefore, it comes as no surprise that Iran is attempting to employ the use of cryptocurrencies to avoid international sanctions. The cryptocurrency makes it a perfect tool to use, against sanctions, as it doesn’t have to be traded through banks. It is worth noting that crypto transactions are considerably more difficult to track.

It is worth noting that Iran placed its first international import order on August 9th. The order was reportedly worth around $10 million in cryptocurrencies. Moreover, at that time, Deputy Minister of Industry, Mine & Trade Alireza Peyman-Pak stated that the use of smart contracts and cryptocurrencies in a selection of trading agreements will be eligible in September. 

Aaron S. - Expert Reviewer

by Aaron S. – Expert Reviewer, BitDegree


This article was originally published in Bitdegree and can be viewed here:

https://www.bitdegree.org/crypto/news/irans-trade-ministry-approves-the-use-of-cryptocurrency-to-pay-for-imports

Tags: Bitdegree
Previous Post

Binance Australia Impose New Measures to Safeguard Vulnerable Users

Next Post

Aave Community Aim to Halt Ethereum Lending Ahead of the Merge

BitDegree

BitDegree

Related Stories

K5: a bright future ahead with the community being the biggest inspiration 

K5: a bright future ahead with the community being the biggest inspiration 

by Maluh Bastos
February 3, 2023
0
7.3k

Klever K5 Wallet’s launch has been the buzz in the last few days. The new and improved Klever Wallet app...

Klever is your go-to DeFi solution 

Klever is your go-to DeFi solution 

by Maluh Bastos
February 1, 2023
0
7.3k

The DeFi world is growing fast. Therefore, having a trustable and effective platform to navigate this universe can help users...

Time to start using K5: learn how to migrate to the new Klever wallet app version

Time to start using K5: learn how to migrate to the new Klever wallet app version

by Maluh Bastos
January 31, 2023
0
7.3k

KleverChain’s launch in 2022 was one of the biggest accomplishments for the Klever Ecosystem.  Klever’s very own blockchain is bringing...

Use cryptocurrency and blockchain for transparent and secure voting

Use cryptocurrency and blockchain for transparent and secure voting

by Warren Manuel
January 30, 2023
0
7.3k

The integrity of democratic voting systems is crucial for the functioning of a healthy democracy. In recent years, there has...

Next Post
Aave Community Aim to Halt Ethereum Lending Ahead of the Merge

Aave Community Aim to Halt Ethereum Lending Ahead of the Merge

indian crypto holders

Indians are the seventh largest crypto holders globally

Please login to join discussion
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.5k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8335 shares
    Share 3334 Tweet 2084
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7021 shares
    Share 2808 Tweet 1755
  • Bitcoin battles back from record losses to $21,000

    5914 shares
    Share 2366 Tweet 1479
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5358 shares
    Share 2143 Tweet 1340
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5070 shares
    Share 2028 Tweet 1268

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

K5: a bright future ahead with the community being the biggest inspiration 

K5: a bright future ahead with the community being the biggest inspiration 

February 3, 2023
Klever is your go-to DeFi solution 

Klever is your go-to DeFi solution 

February 1, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version