Car imports in Iran offered to pay with cryptocurrency

The cryptocurrency can be used as a means of payment for cars supplied to Iran, if agreed with the national central bank, Gholam Hossein Mozaffari, director general of the Kish Free Zone Organization, said this week. This need arose due to the fact that the regulator is currently unable to provide the necessary funding, due to the high inflation of the Iranian rial and the current sanctions policy against the country by the United States.

“If an agreement is reached with the Central Bank, we will provide as a means of payment the cryptocurrency required to pay for car imports, and produced in free zones with a transparent history of origin,” the founders of the initiative note.

The meeting is to be held next week and, if the issue is agreed with the leadership of the Central Bank, the Kish Free Zone Organization will begin accepting applications from the private sector to launch a digital currency exchange.