Regarding global central banks reaction to the cryptocurrencies, Davoud Mohammad Beigi said bitcoin is against central banks naturally, mentioning central banks are an only authorized authority to issue banknote and liquidity management in countries, but central banks are uninformed regarding what happens in general networks and always are worried about who behind the curtain are.
"Bitcoin network has developed in a way that miners regulate it. Bitcoin miners join each other and it leads to two results. First, it is added to cryptocurrency's value, second, they can impose their own regulations to the network. If you do a transaction in bitcoin network, transactions are selected which have high commission" the official stated.
Beigi stated that the focus of Iran's Central Bank is more on studying general cryptocurrencies. As to selling and buying bitcoin in some exchange shops, he said certified exchange shops don't enter this area and those exchange shops sell bitcoin, committing illegal action.
Director of the Central Bank's Payment Systems Administration said the central bank doesn't supervise in this area and it has repeated several times that its risk is on customers' shoulder. Beigi expressed that if the central bank plans to supervise bitcoin, it should be declared based on bank's regulations.
He went on to say that Iran's Central Bank's regulations has been silent about cryptocurrencies so far and it has been announced obviously that cryptocurrncies are not in the range of central bank's supervision. Beigi said our biggest concern is customer's risk.
