another country moving towards crypto

[Crypto Library]

Iran is shifting its stance on digital currencies, focusing on regulation rather than imposing restrictions, according to Minister Abdolnaser Hemmati. Speaking at a Tehran event, Hemmati highlighted the government’s plan to mitigate the economic risks of digital currencies while leveraging their potential benefits. He emphasized the Central Bank of Iran’s authority in managing digital assets and underscored their potential to foster youth employment, boost economic assets, and counteract sanctions. The initiative reflects Iran’s aim to align with global financial trends and capitalize on the advantages of cryptocurrency innovation.

yet another country moving towards regulation of crypto instead of preventing any kind of use of it this is additional good news following bitcoin reaching $100k and i am sure many countries are now interested in crypto and would be reevaluating their stance they also most likely would not want to be left behind with usa looking really strong and determined to be a crypto friendly country

It will be another big steps in the crypto world Iran was one of the pro Islamic country and if they really step to the cryptocurrency then they are will be lots of people will connected with it in the near future. I am also waiting for that. Anyway, this is one of the good news I had heard in this bull season may be we will also heard more good news.
I hope I could also heard something new like my country also accepting the cryptocurrency.

[Cryptsafe]

^  El Salvador president also meet up with Melei the Argentinian president who is also known BTC holder. I think Argentina will sure be buying BTC as well when US start their BTC Reserves.

I heard in the news about them becoming close ally. It will trigger countries to start piling up their holdings when power houses like China and Russia also begin buying for their BTC reserves. All it needs is their regulations to be fixed.

This is just what we need to take effect, once this is achieved, the price trigger would be activated and bitcoin would become much of a scarce commodity making it more in demand and do not forget that the more the demand the possible increase in price of the commodity as it would be a scarce good. If these world powers decides to keep bitcoin as national reserves, what is left for the other nations to follow suits too. I think the bitcoin revolution has just started.

[Aanuoluwatofunmi]

At least, if we can begin to have the most religious countries coming to the light of understanding the impact of crypto and are eager and ready to allow their citizen freely uses these digital currency, then things would have been more better for them and the citizens as well, because everyone would have the privilege of controlling their asset in a decentralized form without the influence of the central authorities.

[Findingnemo]

Regulating is better than a complete ban on that note it's a good news but literally it's a double edged sword, a government can use it to make people use crypto more or they can impose taxation that are absurd that will discourage people from using crypto at all.

[Fivestar4everMVP]

yet another country moving towards regulation of crypto instead of preventing any kind of use of it this is additional good news following bitcoin reaching $100k and i am sure many countries are now interested in crypto and would be reevaluating their stance they also most likely would not want to be left behind with usa looking really strong and determined to be a crypto friendly country

This is a good news indeed, but Iran isn't a country with any significant significance in terms of adding value to the cryptocurrency Ecosystem, but then, it is not bad for countries (regardless of how small or how bad their economy is) to adopt bitcoin and cryptocurrencies in general.

And I love what is said above about cryptocurrency creating employment for youths, this is true and I wonder why several governments of different countries are yet to see what they are missing by restricting or even banning their citizens from crypto usage and transactions.

In countries where unemployment is eating deep and destroying the economy, cryptocurrency can be the savior, as if allowed, several youths can build crypto businesses which will not only gainfully employ them and others, but will also pay tax to the government.
Those who can not build businesses can learn how to trade and make money daily for themselves, which further improves their standards of living and make the economy better.
I hope every government that are yet to adopt crypto will consider its benefits, for its enormous.

[debra]

At least, if we can begin to have the most religious countries coming to the light of understanding the impact of crypto and are eager and ready to allow their citizen freely uses these digital currency, then things would have been more better for them and the citizens as well, because everyone would have the privilege of controlling their asset in a decentralized form without the influence of the central authorities.

actually it should not be a problem anymore, and one of them is in my country where in the past crypto was often associated with something as haram, because indeed the majority of the population here is Muslim. but in the end, that assumption has changed and what is it now is quite common. and crypto has become something legal, but it is not legal tender like in El Salvador, and it is not legal if used as a means of payment. it is only legal as a commodity asset but all of that is a very rapid development. and hopefully there will be more countries like this

[bitterguy28]

actually it should not be a problem anymore, and one of them is in my country where in the past crypto was often associated with something as haram, because indeed the majority of the population here is Muslim. but in the end, that assumption has changed and what is it now is quite common. and crypto has become something legal, but it is not legal tender like in El Salvador, and it is not legal if used as a means of payment. it is only legal as a commodity asset but all of that is a very rapid development. and hopefully there will be more countries like this

this is a lot better than have your country ban and restrict all bitcoin related uses there are still many misinformation spreading around and wrong ideas of people about bitcoin that needs to be destroyed but for now it is still good progress we can't build anything in one day and many countries has to catch up and educate most of their citizens tho they need to catch up quickly because other countries are getting really friendly with crypto and getting ahead of everyone

[doc]

actually it should not be a problem anymore, and one of them is in my country where in the past crypto was often associated with something as haram, because indeed the majority of the population here is Muslim. but in the end, that assumption has changed and what is it now is quite common. and crypto has become something legal, but it is not legal tender like in El Salvador, and it is not legal if used as a means of payment. it is only legal as a commodity asset but all of that is a very rapid development. and hopefully there will be more countries like this

this is a lot better than have your country ban and restrict all bitcoin related uses there are still many misinformation spreading around and wrong ideas of people about bitcoin that needs to be destroyed but for now it is still good progress we can't build anything in one day and many countries has to catch up and educate most of their citizens tho they need to catch up quickly because other countries are getting really friendly with crypto and getting ahead of everyone

I agree with you, if only crypto is stated as haram by some people, that is still reasonable because each person has their own perception. However, if it is prohibited or considered illegal by the state, this is more dangerous because we do not invest in crypto because it is considered illegal.

[LogitechMouse]

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yet another country moving towards regulation of crypto instead of preventing any kind of use of it this is additional good news following bitcoin reaching $100k and i am sure many countries are now interested in crypto and would be reevaluating their stance they also most likely would not want to be left behind with usa looking really strong and determined to be a crypto friendly country

Iran is part of BRICS, and it seems like they're trying to involve themselves in mining Bitcoin as well. Like what the US are doing right now, it seems like BRICS countries are trying to use Bitcoin. I mean Putin already is considering the use of digital currencies to reduce the US dollar dependency.

Correct me, but Iran has one of the cheapest electricity in the world currently with $0.002 per KWH. For sure, miners would love to go there, and mine as it will be profitable for them. TBH, it might happen now that they're trying to regulate cryptocurrency. I expect more countries to do the same.

[MRY]

I agree with you, if only crypto is stated as haram by some people, that is still reasonable because each person has their own perception. However, if it is prohibited or considered illegal by the state, this is more dangerous because we do not invest in crypto because it is considered illegal.

These are indeed kind of situations when one has to be constant in keeping up with certain rules, since the effect is quite significant on our investment processes. If a country does not allow any of the crypto in their system, this will drag the technology and try to wear people down from any form of financial creativity. But, there is nothing wrong with promoting an open discussion of government and the cryptocurrency industry in order to enable the parties to come to a middle ground decision. If done correctly and with enough awareness, we can prove that the application of crypto can bring significant benefit to the growing economy and people in specific regions or countries. This can also be a good starting point for making the case for better identification of digital assets.

[taufik123]

I agree with you, if only crypto is stated as haram by some people, that is still reasonable because each person has their own perception. However, if it is prohibited or considered illegal by the state, this is more dangerous because we do not invest in crypto because it is considered illegal.

Countries that are too restrictive or oppose crypto, of course the country does not see how crypto will benefit them.
In my country alone, in Indonesia, crypto is regulated as a commodity tool and this is still very reasonable and can be beneficial for all crypto investors, trade legally and the country also benefits from the taxes paid.

Even China has lifted the ban on Bitcoin and this has made China a huge market for crypto.
Countries that actually ban Crypto will not advance and they will lag behind other countries that are already open to crypto

[Cryptsafe]

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yet another country moving towards regulation of crypto instead of preventing any kind of use of it this is additional good news following bitcoin reaching $100k and i am sure many countries are now interested in crypto and would be reevaluating their stance they also most likely would not want to be left behind with usa looking really strong and determined to be a crypto friendly country

Iran is part of BRICS, and it seems like they're trying to involve themselves in mining Bitcoin as well. Like what the US are doing right now, it seems like BRICS countries are trying to use Bitcoin. I mean Putin already is considering the use of digital currencies to reduce the US dollar dependency.

Correct me, but Iran has one of the cheapest electricity in the world currently with $0.002 per KWH. For sure, miners would love to go there, and mine as it will be profitable for them. TBH, it might happen now that they're trying to regulate cryptocurrency. I expect more countries to do the same.

I have long been observing and following up with this development as well. BRICS nations are somehow looking at the digital currency option for trading against the dollar and so far some of the BRICS nation are crypto friendly (Russia, Brazil, India, China, and South Africa). They are looking at developing policies that would be suitable for their crypto transactions and I stumbled upon a publication online which states that  "brics-countries-consider-blockchain-based-stablecoin-settlements".

If Iran fully implements and integrate bitcoin into their system, they could be a big rival to the US as a bitcoin mining hub reasons being as a result of their cheap electricity tariff which would attract many investors and miners into their country making their economy boom very fast. I believe other nations are on the verge of adopting bitcoin and cryptocurrency into their system just as the world powers are beginning to do.

[Cryptsafe]

At least, if we can begin to have the most religious countries coming to the light of understanding the impact of crypto and are eager and ready to allow their citizen freely uses these digital currency, then things would have been more better for them and the citizens as well, because everyone would have the privilege of controlling their asset in a decentralized form without the influence of the central authorities.

You are making a point here as I have noticed that in the past, religious sentiment some how affects the adoption of crypto as you have said. I did some findings and I saw that some countries actually called bitcoin and crypto  all sorts of names referring it to things not making any sense or correlating with the main purpose for which it was invented. However, bitcoin has proven to be a reliable and sustainable aspect of investment and store of value and currently, the adoption rate is growing globally coupled with the fact that an incoming crypto friendly president would be sworn or inaugurated few weeks from now as the president of the United States which would be  good and a perfect timing for it.

[nakmantu99]

At least, if we can begin to have the most religious countries coming to the light of understanding the impact of crypto and are eager and ready to allow their citizen freely uses these digital currency, then things would have been more better for them and the citizens as well, because everyone would have the privilege of controlling their asset in a decentralized form without the influence of the central authorities.

You are making a point here as I have noticed that in the past, religious sentiment some how affects the adoption of crypto as you have said. I did some findings and I saw that some countries actually called bitcoin and crypto  all sorts of names referring it to things not making any sense or correlating with the main purpose for which it was invented. However, bitcoin has proven to be a reliable and sustainable aspect of investment and store of value and currently, the adoption rate is growing globally coupled with the fact that an incoming crypto friendly president would be sworn or inaugurated few weeks from now as the president of the United States which would be  good and a perfect timing for it.

Bitcoin has proven to be a good investment and keeps our assets safe.
I don't really care about religious sentiment, because for me this doesn't harm others., I just save my assets by investing to make a profit.
We also see that Trump is very supportive of crypto, this is quite good for the future development of crypto in the US which will affect other countries.

[target]

Here's another country trying to adopt Bitcoin. Czech Republic. According to the news the country is exempting capital gain tax to Bitcoin holders of over 3 years.

I read this on Binance post and some other crypto blogs which a few people only talked about. It may not be good  if you are just holding a few but holding for a long time does have benefit.