Iran's central bank has issued a policy statement on the regulation of financial technology (fintech) providers in the country. It had previously announced plans to create a new regulatory body devoted to fintech, but has reversed this stance following a change in senior management. The announcement comes as Iran is set to host an international conference next month that will focus on blockchain and cryptocurrencies.
Iran's central bank has issued a policy statement on the regulation of financial technology (fintech) providers in the country. It had previously announced plans to create a new regulatory body devoted to fintech, but has reversed this stance following a change in senior management. Instead, fintech companies will be required to link up with existing authorised banks and financial institutions, which will remain responsible for customer data and be regulated under existing rules.