The Iranian Government Has Made The First Cryptocurrency Payment Worth $10 million.
TECHDIGEST- Iranian government has placed its first import order for $10 million, which will be paid for with cryptocurrency. Iran chose this payment method due to a lack of foreign currency as a result of sanctions imposed on the country. This was first reported by Tasnim, a popular news organization based in the country.
Remember that Iran updated its digital asset regulations to allow purchases of locally generated cryptocurrencies. According to the report, Alireza Peyman Pak a Ministry of Industry, Mine, and Commerce official, tweeted (in Farsi) that by the end of September, Iran’s “use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries.“
The government approved cryptocurrency mining in the country in 2019. However, the country continues to closely control the sector. As an example of its stringent regulation, the country slapped down on local miners over energy consumption last year.