As indicated by ArzDigital, Gholam Hossein Mozaffari, CEO of the Kish Free Zone Organization, hopes that the Iranian government will endorse a proposal to utilize crypto funds, for example, Bitcoin (BTC), to pay for car imports on Kish Island in Iran.
The choice will tumble to the Central Bank of Iran, who has said in the past that this kind of funding would not be possible because of the hyperinflation of the rial — the nation’s currency.
Mozaffari told local news sources that the issue of car imports has been a “tragic story,” as a result of the expensive costs included:
“Our next suggestion was that we would provide the required currency through digital currency mined in free zones, the origin and amount of which are known, and would not put any pressure on the country’s currency.”
Mozaffari is meeting with the top of the Central Bank one week from now, and hope the result will be productive. The association seems to have just started working with companies in the private sector to set up a framework for crypto exchanges, if the national bank does indeed greenlight the proposal.
In August, Taras Kulyk, Senior Vice President of Blockchain Business Development at Core Scientific, revealed that administrations – like Iran – are hoping to make their policies more favorable for mining so as to increase competitive advantages over other countries.
The Iranian government recently took down over a thousand crypto mining farms that were operating without a license.