23 December 2017 - 14:57

Trading Bitcoin in Iranian Brokerage Firms Is Violation

Head of Iran's Securities and Exchange Organization said buying or selling Bitcoin in brokerage firms is infraction.
News ID : 79415
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Regarding Bitcoin, Shapour Mohammadi said that the Securities and Exchange Organization is surveying Bitcoin for being launched in Iran's economy, adding the organization hasn't reached a result in this regard yet and if a brokerage firm buys or sells the cryptocurrency, it commits a violation.

He stressed that if a financial instrument or product wants to be sent to Iran's capital market, it must be surveyed in terms of control and launch state; therefore, Securities and Exchange Organization currently is scrutinizing the digital currency and also its result will be handed in the Supreme Council of Exchange.

Concerning the theory of value in economics, Shapour Mohammadi mentioned one of the most significant points of every financial instrument in economy is creating value to be approved by Securities and Exchange Organization.

"If Bitcoin doesn't rely on making value, it is vague and unacceptable", he stated.

As to trading Bitcoin in some brokerage firms, the official said while the process of survey about the issue is in progress and the final vote hasn't been sent to

the Supreme Council of Exchange, buying and selling Bitcoin in brokerage firms is illegal and Securities and Exchange Organization doesn't approve it.

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