Central Bank Announces: The Macro Policies Document for Dealing with Cryptocurrencies to be Finalized Soon
The Central Bank has announced that the macro policies document for the country’s approach to cryptocurrencies, led by this monetary regulator and leveraging the capacities of other executive bodies, will soon be finalized.
According to the Central Bank’s Public Relations Department, the Deputy for New Technologies of the Central Bank stated that special sessions of the Cryptocurrency Exchange Coordination Working Group, with representatives from all relevant agencies, will be held next week, and this document will soon be completed and presented.
He noted the implementation of the new Central Bank Law, stating: Given the impact and implications of this phenomenon on the monetary and foreign exchange markets, the new Central Bank Law grants the bank regulatory powers concerning cryptocurrencies.
He continued: Since the enactment and implementation of the new Central Bank Law over the past two months, weekly specialized meetings on cryptocurrencies have been held at the Central Bank every Saturday, attended by the Governor and Deputy Governor of the Bank and other members of the Board, to develop the necessary regulations and executive instructions for Article 59 of the Central Bank Law.
Moharamian added: Since April 2021, the Cryptocurrency Exchange Coordination Working Group, under the National Cyberspace Center, has been meeting regularly with all relevant agencies and representatives of the judiciary at the Central Bank. This group has been monitoring the cryptocurrency exchange environment in the country and taking regulatory approaches aligned with the legal capacities and needs of each relevant body. The self-regulation approach has also been given special attention.
The Deputy for New Technologies of the Central Bank, referring to the concerns and directives of the Head of the Judiciary on cryptocurrencies, said: An extraordinary session of the Cryptocurrency Exchange Coordination Working Group with all its members will be held next week. Decisions will be made within the scope of the group’s authority to enhance public information and awareness about cryptocurrency frauds.
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