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Iran Places First Crypto-Funded Import Order

Iran is making headlines in the crypto space these days following the latest reports. Check them out below.

Iran registers first important order paid in crypto

Iran registered its first import order to be paid in crypto since the government, strapped for foreign currencies due to sanctions, amended digital assets legislation to allow locally mined cryptocurrencies to be used for purchases.

CoinDesk notes that the order is valued at $10 million, the Tasnim news agency reported Tuesday.

The same important online publication notes that the report cited a tweet from Alireza Peyman-Pak, an official at the Ministry of Industry, Mine and Trade, which said (in Farsi) that by the end of September, Iran’s “use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries.”

Just in case you don’t know, back in 2019, the government legalized crypto mining in the country.

It still strictly regulates the sector and cracked down on local miners over energy use last year.

The crypto market today

A closely followed crypto analyst says that the potential for a new fork of Ethereum (ETH) makes him very bullish on the non-fungible token (NFT) sector.

The pseudonymous trader known as Kaleo said not too long ago that he’s got his eye on Ethereum’s upcoming merge to its Beacon Chain, which already runs the proof-of-stake model.

It’s also important to know the fact that a lot of people are looking forward to Ethereum’s big update. Also, some are critical of it, and discussions of a possible hard fork back to a proof-of-work (POW) chain post merge have risen.

In such a situation, Kaleo said that since all non-fungible tokens on Ethereum will presumably also reside on the new chain, NFT holders could essentially double their collections.

In order to learn more available details check out our previous article. 

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