Iranian Tax Agency Profiles Crypto Trading Platform Owners

The Islamic Consultative Assembly joined the discussion on how to regulate decentralized financial assets. Amid rising cryptocurrency prices and falling Iranian stocks, cryptocurrencies have been very popular in Iran last year.

In a letter addressed to financial regulators including the Central Bank of Iran and the Ministry of Economic Affairs and Finance, the parliament's speaker Mohammad Baqer Qalibaf calls on the National Tax Administration of Iran (INTA) to profile the owners of crypto trading platforms. The tax department is expected to submit a report to parliament soon.

Last week, the Central Bank of Iran warned citizens about the risks of crypto trading and investments. In April, the regulator allowed local banks and exchange offices to use cryptocurrency mined in Iran to pay for imports. The use of cryptocurrency has helped Iranian companies bypass restrictions on banking, transportation and insurance services, according to the Iranian Fintech Association.

Image: Forbes