Most countries of the world are using cryptocurrencies and it is becoming more and more difficult to move in this direction in our country day by day. In recent days, the activities of digital currency exchanges have been restricted by the central bank, and this has caused concern among investors and their losses in this regard.
The story began with unprofessional comments in this regard and linking the stock market decline with investment in this market. This is despite the fact that the main reason for the current situation in the stock market these days was inappropriate policies and mismanagement.
Narrowing down the scope of activity of cryptocurrencies under the pretext of this issue means clearing the face of the issue and going astray. Experts emphasize the need for the central bank to avoid hasty decisions, believing that the closure of digital currency exchanges will lead to transactions in informal channels and the turmoil in parallel markets.
According to the National Economy, “the search for bitcoin and other cryptocurrencies has been overtaken by the word stock exchange.” The remarks were made by Mojtaba Tavangar, chairman of the Digital Economy Committee of the Islamic Consultative Assembly, to the president and a number of ministers, warning him to buy bitcoins and other cryptocurrencies.
The context of such a statement shows that the issue of cryptocurrencies, like many other issues, has been marginalized and decisions hastened; The issue that we witnessed in the stock market and then had devastating results. The beginning of the capital market collapse was the pretext of a disagreement between the Minister of Oil and the Minister of Economy and the head of the Privatization Organization, which led to the collapse of about one million units of the stock market and severe losses to shareholders.
The official report of the Ministry of Silence shows that Ramzarz industry, with an annual financial turnover of more than 25 thousand billion Tomans (equivalent to 625 million dollars), can be responsible for the prosperity of Iran’s economy. Currently, it has created more than one million jobs in the field of cryptocurrencies directly and indirectly, and this indicates the high investment capacity in this field. Experts say that cognition is a prerequisite for policy in the cryptocurrency market and believe that in this case, the benefits of this phenomenon can be optimized.
Wrong policies in this area, they say, not only can not be a way forward, but also provide a platform for cryptocurrencies to operate in the backyard and dark paths. The ban on transparent digital currency exchange platforms turns the volume of working capital in this market into a massive amount of stray liquidity.
Also, users’ worries about the blocking of accounts and the resulting insecurity caused the outflow of currency from the country, the loss of access to assets and the impossibility of following it, the disappearance of capital circulation in the country, digital currency transactions in informal channels and market turmoil. It becomes parallel. By banning cryptocurrency trading in the country, people cannot be led to the capital market. In fact, by doing so, people have been encouraged to use foreign currency portals more, and this is not in the interest of the country.
Therefore, instead of clearing the issue and banning cryptocurrency trading, it is better to take a logical approach to this issue and provide better conditions for using bitcoin and other cryptocurrencies in the interest of my users and our country. The fact is that due to the attractiveness of the cryptocurrency market, many people have become interested in this market over time, and the solution is to increase people’s knowledge.
The acceptance of the currency code cannot be ignored. Bitcoin, Ethereum, and other cryptocurrencies have found their way into people’s capital portfolios, and this is what is referred to as “portfolio diversification.”
The cryptocurrency sector will be easily regulated by the current laws of the country by enacting transparent and practical laws, and financial crises can be prevented. Let us not forget what security and economic crises caused by the crisis of financial institutions in the 1980s have occurred in recent years; The crises that resulted from the non-transparency and corruption of the financial institutions’ management system.
In any case, what happened in the news space of the digital currency market in the country over the past few days was a series of hasty decisions that created many problems for activists in this field. The worries of the users of the exchange offices about the blockage of assets and the impossibility of withdrawal caused the users to be willing to leave this market even with a large loss. Lack of a sense of sustainable economic security is an important factor in preventing sustainable development in the country.
The closure of digital currency exchanges in these circumstances and with sudden and hasty decisions, leads to the victimization of digital currency operators and also to move away from the capacities of these currencies.
The use of digital assets in the context of sanctions is an opportunity for our economy and to meet the basic needs of the country in strategic areas such as food and medicine. These costs will be eliminated with the help of digital currency, and the corruption centers that have been set up as a means of circumventing sanctions will be closed. Banning digital currency activity deprives the country of this great and accessible opportunity; It should be said that closing the digital currency market in the country helps to sanction the Iranian economy.