A proposal for adding crypto, nominally bitcoin, to the list of accepted payment methods for car imports on Kish Island has reportedly been submitted to the Iranian authorities. 

Specifically, the final call for approval will reportedly be placed in the hand of the Central Bank of Iran, who previously disclosed that this kind of funding would not be passed because of the hyperinflation of the rial – the official currency of the country. 

“Our next suggestion was that we would provide the required currency through digital currency mined in free zones, the origin and amount of which are known, and would not put any pressure on the country’s currency.” Gholam Hossein Mozaffari – head of the Kish Free Zone Organization – reportedly remarked. 

Mozaffari is reportedly also having high hopes that the local government will finalize the approval, further adding that the obstacles troubling the car imports has been a “sad story”. 

Mozaffari is reportedly having a talk with the head of the Central Bank next week, with high expectations for positive results. The organization seems to have reportedly initiated collaboration with firms across the private sectors, to establish a framework for crypto transactions, should the bank actually approve of the proposal. 

In August, Taras Kulyk, Senior Vice President of Blockchain Business Development at Core Scientific reportedly revealed that authorities – such as Iran – are working towards changing their policies to support mining more, in an effort to gather more competitive advantages over other nations.