Iranian Official Says Crypto-Based Foreign Investment to Be Authorized

Foreign investment in Iran can be carried out through cryptocurrency, a senior Economy Ministry official said, citing legislation that allows both financing and foreign direct investment (FDI) to be executed using digital assets.

Majid Karimi-Rizi, head of the National Financing Center at the Ministry of Economic Affairs and Finance told ILNA that a new financing tool under the Production and Infrastructure Financing Law explicitly permits the registration of foreign capital in the form of cryptocurrency. He said the related bylaw must be drafted by the National Financing Council and approved by the government.

Karimi-Rizi said the ministry had begun work on the regulation, but progress had stopped because the Central Bank of Iran (CBI) has raised concerns. The bank, he noted, has already issued a crypto brokerage directive and has certain institutions and requirements in mind. “We should use this existing capacity and issue the necessary permits,” he said.

He added that Iran could apply the same model used for gold bullion imports, which currently allows foreign investors to bring capital into the country in physical gold. Under a newly approved decision by the Foreign Investment Board, investors can import gold, then offer it on the Iran Mercantile Exchange or the Foreign Exchange and Gold Center.

The move is expected to preserve asset value while enabling investors to enter production and export-oriented sectors. “The same method can be applied to cryptocurrency, enabling investors to transfer their capital into Iran in the form of digital assets,” the official said.

Karimi-Rizi said the legal provision applies primarily to FDI projects, defined as investments made by a company or individual in another country, though the law also permits financing through cryptocurrency.

Asked whether the law allows the use of all cryptocurrencies for investment and financing, he said rules must be established to define the limits. “Restrictions have to be considered in the regulatory framework; for example, measures are needed to ensure the security of Tether is not compromised. The Central Bank is expected to set these rules and act accordingly,” he said. - Iran Daily