A semi-official Tasmin agency reported that Iran registered its first official import order to be paid using cryptocurrency this week. The order was worth $10 million and is the first step towards circumventing the sanctions imposed on the country by the U.S.
An official from the Ministry of Industry, Mine and Trade tweeted, “By the end of September, the use of cryptocurrencies and smart contracts will be widely used in foreign trade with target countries.”
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Iran legalized crypto mining in 2019 and strictly regulates the sector. There are currently 118 permitted bitcoin mining units in the country.