Iran’s local news outlet “Financial Tribune”, made an announcement on 25th August 2018.
The draft of the state-backed cryptocurrency has been prepared under the instruction of President Hassan Rouhani, as reported by the National Cyberspace Centre.
Saeed Mahdiyoun, deputy director in charge to drafts regulations for Iran’s Supreme Cyberspace Council, updated local news agency IBENA, a national digital currency is earnestly being pursued.
An official announcement by Central Bank of Iran on the subject accepted by end of September 2018.
Iranian banks previously had banned cryptocurrencies operations on the pretext of money laundering activities that surfaced in December 2017.
State-backed token currency is to bypass the forthcoming US sanctions while “ease the transit of money” to and from “anywhere around the globe.” Cointelegraph, stated.