Cryptocurrencies were designed to get the world rid of the financial shackles that have been imposed on us by centralized organizations. This attempt to give everyone financial freedom was seen as a hostile move and most of the centralized organizations and the governments started to ban cryptocurrencies altogether.
Soon, the benefits that these decentralized, digital assets had on offer was evaluated and upon realizing the flaws in their initial decision to ban cryptocurrencies, many countries started to regulate cryptocurrency.
Iran is one of the few nations that has decided to go back on its previous decision to ban Bitcoin in the country to not only legalize Bitcoin payments but also to create its own cryptocurrency and use it for making transactions on a daily basis.
Iran in talks with other countries to accept its Cryptocurrency
Iran has been one of the few countries that have been battling financial instability in the world. Due to the trade bans opposed by the USA on Iran, towards the end of 2018, the nation has experienced major financial problems.
In order to solve these issues, Iran has been set up to launch its own cryptocurrency. In fact, Iran is in words with eight other countries to start using its own cryptocurrency for transactions. Representatives of countries such as Switzerland, South Africa, France, England, Austria, Russia, Germany, and Bosnia have all visited Iran to have a meeting regarding the acceptance of cryptocurrency.
Once the new national cryptocurrency is launched and accepted, Iran would be the biggest player in the crypto world and the country will be free from all the financial troubles that it had faced.
Iran lifts the Bitcoin ban in the nation
With the news of its own national cryptocurrency being launched very soon, Iran has lifted the Bitcoin ban that had been imposed nationwide. This is welcoming news for all the crypto enthusiastic in the country.
With cryptocurrencies becoming legal and the creation of a national cryptocurrency of its own, Iran is all set for the next financial revolution in the country.
By partnering with eight other countries, Iran is trying to make the national cryptocurrency widely acceptable for trading purposes. By having a national cryptocurrency that is widely used, it is sure to question the ranks of several cryptocurrencies that already exist.
What does this mean to the crypto world?
The move to start accepting cryptocurrency throughout the nation is a positive sign for the entire cryptocurrency world. Iran is following the footsteps laid down by Switzerland which is cryptocurrency heaven for everyone. By creating and accepting cryptocurrency throughout the nation, Iran will be one of the early pioneers of cryptocurrency mass adoption.
The nation will also benefit immensely from the financial rewards that the acceptance of its new national cryptocurrency brings along with it. Additionally, the country is also going to be free from the pressure put by the bigger nations like the USA on its trading capabilities. Once other countries start seeing the results of acceptance of cryptocurrency, they will also start following the same path and shall eventually lead to the mass adoption of cryptocurrencies in the world.