Iranian President proposes to create cryptocurrency for Islamic countries

Iranian President Hassan Rouhani proposed creating a cryptocurrency that would be used in Islamic countries as an alternative to the US dollar.

At a conference in Malaysia, Rouhani stated that Islamic countries need to strengthen financial cooperation to counter the "financial hegemony of the United States." He called the US economic sanctions "the main tool for establishing its hegemony and mockery of other nations."

Rouhani noted that the United States imposed tough sanctions on Iran, which led to a significant increase in gas prices and protests from citizens. According to him, the United States sought in this way to harm Iran. As a solution to this problem, Rouhani proposed using cryptocurrencies. 

"The Muslim world should be designing measures to save themselves from the domination of the United States dollar and the American financial regime," 

the Iranian president emphasized.​

Rouhani also proposed the creation of a special fund to finance technological cooperation between Muslim countries. Turkish President Recep Erdogan noted that Muslim countries should finance each other and proposed the creation of a special working group.

"It looks like sometimes when we use the US dollar, there are sanctions that can curb economic development. We can use our own currencies or have a common currency," 

supported Malaysian Prime Minister Mahathir Bin Mohamad.​

Recall that recently the Cabinet of Ministers of Iran issued a bill proposing the introduction of mandatory registration and licensing of mining companies. Now the document is waiting for official approval. 

SOURCE