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17th of January 2018

Economy



Iranian Banker Calls for Domestic Digital Currency

Masoud Khatouni, the deputy for information technology and communications network at Iran’s biggest bank Bank Melli Iran (BMI) has called for designing a domestic digital currency. He has also urged bankers to use digital currencies themselves, CoinTelegraph reported.

Khatouni believes Iran must formally recognise activities using digital currencies as they are currently shaping the future of banking.

“Banks themselves must also enter this field to use them,” he said.>

The BMI official stressed that there should be “no limitations” on the use of digital currencies.

“I ask central bank officials to refrain from creating restrictions for digital currencies by way of laws and regulations, because based on the current realities of the world, they have taken form and the Iranian people have also moved toward them,” he said.

Masoud Khatouni considers Iran could benefit from digital currencies, especially considering its history of dealing with the burden of economic sanctions.

His stance is markedly different from other prominent bankers in Iran. Both the Central Bank of Iran (CBI) Governor Valiollah Seifand and head of its Innovative Technologies Department Nasser Hakimi have recently urged people to exercise utmost caution when dealing in cryptocurrencies, especially with Bitcoin (Bitcoin).

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