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  • The severe sanctions imposed on Iran by the United States prompted their government to make Bitcoin legal tender in their tourism sector.
  • During the 12th Tehran International Tourism Exhibition, Rmoney, a local cryptocurrency, introduced their own digital asset for the tourism sector.

After severe sanctions were imposed on Iran by the United States, their government made blockchain-based digital assets such as Bitcoin (BTC) have now become legal tender in their tourism sector. The main aim of this move is to make life easier for visitors who may have been discouraged by the sanctions and the devaluation of the Iranian rial.

In more evidence of Iran’s softened stance towards cryptocurrencies when it comes to tourism, it was also noted that during the 12th Tehran International Tourism Exhibition, Rmoney, a local cryptocurrency exchange launched eight months ago and licensed by the central bank, introduced their own digital asset for the tourism sector.  

CEO of Rmoney, Mehdi Naseri, said:

“The aim of creating the tourism digital currency system is to resolve issues concerning foreign payments. As payment challenges in this sector are resolved, more foreign tourists will be attracted to Iran, which in addition to generating foreign currency revenues, will provide employment opportunities for residents.”