The government of Iran has no official and specific stance on trading cryptocurrencies. Although Bitcoin trading at the moment is not against the law, Iranian authorities showed their concerns in this matter.

According to ITMEN, the head of Central Bank of Iran, Valiollah Seif, warned about these trades and stated that the central bank is trying to bring a relative security in this matter.

Also, Shapour Mohammadi, the head of Securities and Exchange Organization, in his latest announcement banned the brokerages of trading bitcoins and emphasized that this organization is still investigating bitcoin’s entrance to the national economy.

Since the invention and development of cryptocurrencies or digital currencies, countries have a wide-ranging view towards them; some embracing, some disapproving and some cautious and more hesitant.

Although we have a few countries like Bangladesh, Bolivia, Ecuador, Kyrgyzstan, and Nepal that actually banned Bitcoin and their trades, most countries showed a very positive attitude towards them. Among them, the US, UK, Japan, Denmark are some of the countries that their regulations are rather soft leading to bitcoin businesses to grow even faster.

Bitcoin in 2017

This year Bitcoin had a record-breaking growth. According to CoinDesk, it started from $900 at the beginning of the year and reached $6,300 by October and reaching over $10,000 at the end of the year.

Bitcoin price history from late 2016 to late 2017 - Source: CoinDesk
Bitcoin price history from late 2016 to late 2017 – Source: CoinDesk

This virtual currency was the fastest-growing asset in the past year, but still, economists and experts have different opinions on how far does this growth go. Oliver White at Fathom Financial Consulting said that bitcoin “certainly fits the criterion” for a bubble asset. Certainly Oliver White isn’t the only one to describe this as a bubble that will inflate as much as possible but eventually is going to burst. But whether it’s a bubble or not, Chris Kline Co-founder and COO at Bitcoin IRA believes that bitcoins will be the highest-growth investment for 2018.

Finally, in Iran where according to ITMEN the market of bitcoins are getting more serious every day and some currency exchanges are already using it and considering it’s high profit, people as well are showing great willingness to buy bitcoins. With this willingness, the Iranian authorities still have not given the green light to these trades.

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