President Masoud Pezeshkian officially designated the Central Bank of Iran (CBI) as the exclusive authority for regulating the cryptocurrency market and the sole entity responsible for licensing, supervising, and issuing necessary directives in this domain.
In a letter addressed to CBI Governor Mohammad-Reza Farzin, the president delcared on Tuesday that all individuals and businesses operating within the cryptocurrency sector will fall under the supervision of the CBI, and that their establishment and operations will be contingent upon obtaining a license from the bank.
Pezeshkian emphasized that according to CBI regulations, the bank is the only authority empowered to set the conditions for holding and trading cryptocurrencies.
All natural and legal persons engaged in the cryptocurrency market must operate under the CBI’s supervision, and obtain necessary licenses for their activities, he added.
Under the Iranian law, the CBI will have direct and primary access to all data, statistics, information, and documents related to the entities active in the cryptocurrency sector.