Central Bank of Iran (CBI) proclamation on cryptocurrencies

Individuals’ formation and activity for creation and running money network and payment based on blockchain technology shall be known as illegal according to CBI.

With reference to money and bank regulations of Iran, in which production and release of money and payment tools shall merely be monopolized by CBI. Now CBI by re-affirming on observing the regulation approved in 1396/10/09 regarding cryptocurrencies, shall notify the following terms and issues:

  • Release of any cryptocurrencies funded with Rials, Gold and other valuable metals and all types of currencies is monopolized by CBI.
  • Individuals’ formation and activity for creation and running money network and payment based on blockchain technology shall be known as illegal according to CBI. CBI is authorized to legally pursuit all those who have neglected the regulations or advertise it.
  • Any types of loss and fatality caused by activities in money and payment networks based on Blockchain Technology and its relative businesses shall be merely born by its publications, approvers or its dealers.
  • The subject of current global cryptocurrencies and their terms and conditions are under discussion in Economic Commission and shall be proclaimed when approved.
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