Reports & Analysis

Restricting digital exchanges prevents the dollar from entering the country


On March 4, Shaparak called on payers to limit services to unconventional businesses, including digital currency operators. Now, more than a month after Shaparak’s letter, activists in the field say there has been no disruption to their work. However, they believe that licensing is necessary for exchange offices.

to the Report In his letter, Shaparak, a subsidiary of the Central Bank and the institution that oversees payments, urged them to immediately stop providing services to businesses “unconventional and against the law of the country.” Otherwise, Shaparak Rasa will cut off these services and deal with the paying company. The letter cited one example of such a business, online exchanges for buying and selling digital currencies.

But Ramzarz activists say that about a month after the issuance of the Shaparak directive, the provision of services to online exchanges continues and the gateways are not blocked. However, some believe that it is necessary to define some kind of license and legal supervision for Ramzarz exchange offices.

Letter: The directive was not practical

According to Amir Hossein Namavar, a financial markets expert, there was no problem in the operation of Ramzarz’s internal trading sites, and that directive was not practical.

He tells Tejarat News:

The governor of the Central Bank recently announced that a regulation on licensing online exchanges is being drafted and will probably be ready by the end of April.

Namavar considers Shaparak’s letter as a mere emotional move based on the removal of responsibility and adds:

Ordinary people now have thousands of dollars in foreign online exchanges and their entry into the country cannot be blocked.

The need for culture to bring dollars into the country

“People are looking to make a profit,” he said.

The government cannot force anyone to invest in the stock market. The capital market must have an attractiveness that is achieved on the basis of economic mechanisms and not on a grammatical basis.

According to Namavar, the second case leads to the current situation that despite very reasonable prices, few people are willing to buy stocks.

He adds:

In contrast, the cryptocurrency market is now very attractive. In such a situation, government institutions must create a culture for young people to enter the market in order to bring dollars into the country.

Letter:

Shaparak’s directive was not practical, ordinary people have thousands of dollars in foreign online exchanges and their entry into the country cannot be blocked.

Bypassing sanctions using cryptocurrencies

This financial market expert emphasizes:

Instead of imposing bans and restrictions, the government should use the cryptocurrency market to circumvent sanctions and release blocked money in other countries.

According to Namavar, the quality of services of domestic exchange offices should be improved to such an extent that people prefer to use them instead of foreign sites.

Lucky: At the foot of the rental doors comes the middle

Saeed Khoshbakht, an expert in the field of Blockchain, also told Tejarat News:

Currently active ports are not blocked, but payment gateways do not allow access to new sites.

He adds:

The Shaparak executive directive and ports may be blocked at any time. The reason why this has not happened yet may be that the central bank knows that if all existing ports are closed, the sale and purchase of cryptocurrencies will not stop, but lease ports will come to the middle.

Happy:

The Central Bank knows that if all existing ports are closed, the sale and purchase of cryptocurrencies will not stop, but leased ports will come into play.

Tatar: Definition of license is required

Mitra Tatari, a financial market expert, also does not approve of sudden and hammering actions on online exchanges, but stresses that the area needs to be regulated, licensed and given a legal authority to monitor.

“She told Trade News:

The number of Iranian Ramzarz trading sites increased significantly in the last three months of last year. However, there is still no specific mechanism for licensing them. As a result, many of these sites do not have the infrastructure to provide services.

Tatar:

Sudden and hammering actions on online exchanges are not right, but, this area requires the definition of a license and the designation of a legal authority for supervision.

Threatening people’s capital

Tatar adds:

In particular, security issues are very important, but some of these sites do not pay attention to such issues. While in the world there are experiences of hacking online exchanges. In these cases, their operators have been forced to compensate users.

According to him, in Iran, it is not clear who is behind some online exchanges; If this trend continues, bad things may happen to people’s capital in the future.

.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button