The government in Tehran is taking steps in preparation of the launch of Iran’s new digital currency, referred to as the crypto rial. The monetary authority of the Islamic Republic hopes to initiate the pilot phase of the project within the next two months.
Crypto Rial to Be Different From Cryptocurrencies, Central Bank Says
Iranian authorities are taking the necessary measures to launch a pilot of the crypto rial as of the month of Shahrivar, according to the Persian calendar, which starts on Aug. 23, Governor of the Central Bank of Iran (CBI) Ali Salehabadi told reporters on Friday.
Quoted by the English-language Iran Front Page news portal, the top executive emphasized that Iran’s digital currency will be different from the decentralized global cryptocurrencies. It is solely designed to “replace the banknotes that the people currently possess,” he noted.
Salehabadi further unveiled that the pilot project will initially cover just one of the country’s regions. The crypto rial,...
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