Iran studying various options on official digital currency, top banker says

Central Bank of Iran (CBI) Governor Abdolnasser Hemmati says the bank is considering various options on how it can issue an official digital currency amid a global race to modernize payments systems and reduce the risks related to privately issued cryptocurrencies.

Hemmati said on his Instagram page on Sunday that experts at the CBI were working on laws and regulations needed to issue a digital currency in the country.

He said the bank had already compiled a draft of “Iran’s Comprehensive Document on Cryptocurrency”.

“Studying this new international trend and concentrating on various models, the CBI is searching for the best possible strategy in this field,” said the chief banker.

Central banks around the world have been involved in efforts to issue digital currencies amid a surge in demand and popularity for cryptocurrencies in recent years.