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Iran announced its first official import in crypto. Deputy Minister of the country's Industry, Mine, and Trade Alireza Peyman-Pak tweeted that the first import order registration worth $10 M was made.
He also mentioned that by the end of the next month, the use of crypto and smart contracts will be widespread in foreign trade with certain countries.
این هفته، اولین ثبت سفارش رسمی واردات با #رمز_ارز به ارزشی معادل ۱۰ میلیون دلار با موفقیت صورت پذیرفت. تا پایان شهریور ماه، استفاده از رمز ارزها و قراردادهای هوشمند به صورت گسترده در تجارت خارجی با کشورهای هدف عمومیت خواهد یافت. #فصل_جدید_تجارت_خارجی
— علیرضا پیمان پاک🇮🇷 (@peymanpak_ir) August 9, 2022
Peyman-Pak didn't reveal more details about the trade, goods, counterpart country, or the specific crypto used for the transaction.
Iran legalized crypto mining in 2019 establishing proper regulations. According to the blockchain analytics company Elliptic, in 2021, Iran implemented 4.5% of all Bitcoin mining activities. The company says Iran can use crypto to avoid sanctions by the US and the European Union.