Iran’s National Center for Cyberspace (NCC) has reportedly completed its draft proposal for regulating cryptocurrencies. According to that country’s Financial Tribune website, the document has been in the works since 2013 and is now ready to be considered by Iran’s High Council on Cyberspace. NCC regulation deputy Saeid Mahdavioon has said that the proposal should be finalized within the next two months.
The draft proposal is the result of a collaborative effort that saw many key Iranian agencies and authorities involved in the process. It was reportedly informed by various studies conducted by entities such as the Telecoms Ministry, the Iranian police department, The Majlis Research Center, the Central Bank of Iran, and the Security and Exchange Organization.
While the NCC Commission for Regulations at one point developed as many as five different strategies for cryptocurrency regulation, the body ultimately settled on one that emphasizes defined roles and orderly regulation of the technology. In remarks quoted by the NCC’s news outlet Majazi.ir, Mahdavioon said, “NCC’s Commission for Regulations has favored a scenario that focuses on taking a lawful approach to make the best use of digital currencies.”